I am on look out for some leasehold conveyancing in Ferndown. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Ferndown - 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.

There are only Sixty One years left on my flat in Ferndown. I need to get lease extension but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases a specialist should be useful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Ferndown.

I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Ferndown. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Ferndown ?

Most houses in Ferndown are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Ferndown in which case you should be looking for a Ferndown conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

Can you provide any advice for leasehold conveyancing in Ferndown with the purpose of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Ferndown can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Ferndown charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Ferndown.

A minority of Ferndown leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.

If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.

You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’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. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on our sale of a £125000 maisonette in Ferndown next week. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Ferndown?

Ferndown conveyancing on leasehold flats usually necessitates administration charges levied by management companies :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Ferndown
• Supplying insurance information
• 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 Ferndown leasehold property is £350. For Ferndown 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 own a basement flat in Ferndown, conveyancing having been completed 2012. Can you work out an approximate cost of a lease extension? Comparable properties in Ferndown with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2096

With only 71 years unexpired the likely cost is going to span between £12,400 and £14,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

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Lease Extensions in Ferndown