I work for a reputable estate agency in Fairwater where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Fairwater conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What advice can you give us when it comes to finding a Fairwater conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Fairwater conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Fairwater conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?
• If they are not ALEP accredited then what is the reason?

Can you provide any top tips for leasehold conveyancing in Fairwater with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Fairwater can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers representatives.
• Many landlords or Management Companies in Fairwater charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Fairwater.
• A minority of Fairwater leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
• You believe that you know the number of years left on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

If all goes to plan we aim to complete our sale of a £ 200000 garden flat in Fairwater on Thursday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Fairwater?

Fairwater conveyancing on leasehold maisonettes normally necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.

Are there frequently found deficiencies that you witness in leases for Fairwater properties?

Leasehold conveyancing in Fairwater is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

I own a split level flat in Fairwater, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Fairwater with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2086

You have 60 years remaining on your lease we estimate the premium for your lease extension to range between £22,800 and £26,400 plus costs.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.