Having had my offer accepted I require leasehold conveyancing in Fakenham. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Fakenham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have 72 years unexpired on my flat in Fakenham. I need to extend my lease but my freeholder is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist would be useful to conduct investigations and to produce a report to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Fakenham.

What are your top tips when it comes to choosing a Fakenham conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Fakenham 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 two or three firms including non Fakenham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

Can they put you in touch with client in Fakenham who can give a testimonial?

Do you have any advice for leasehold conveyancing in Fakenham from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Fakenham can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Fakenham leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer before hand.

If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unsettled.

If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and delays many a Fakenham conveyancing transaction. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Completion in due on the sale of our £450000 apartment in Fakenham next week. The management company has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Fakenham?

For most leasehold sales in Fakenham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Fakenham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Fakenham leasehold property is £350. For Fakenham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I bought a basement flat in Fakenham, conveyancing was carried out 2007. How much will my lease extension cost? Corresponding properties in Fakenham with over 90 years remaining are worth £225,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2101

With just 76 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Fakenham