Having had my offer accepted I require leasehold conveyancing in Gainsborough. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Gainsborough - 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.

Having checked my lease I have discovered that there are only Sixty One years left on my lease in Gainsborough. I now want to extend my lease but my landlord is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to locate the freeholder. For most situations a specialist would be helpful to conduct investigations and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Gainsborough.

I am attracted to a two maisonettes in Gainsborough which have approximately fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Gainsborough. The lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to choosing a Gainsborough conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Gainsborough conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Gainsborough conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If the firm is not ALEP accredited then what is the reason?

What are the legal fees for lease extension work?

We expect to complete the disposal of our £200000 apartment in Gainsborough on Friday in a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Gainsborough?

Gainsborough conveyancing on leasehold apartments nine out of ten times necessitates fees being raised by managing agents :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Gainsborough
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Gainsborough leasehold property is £350. For Gainsborough 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 required to provide answers.

Leasehold Conveyancing in Gainsborough - Examples of Questions you should consider Prior to Purchasing

The best form of lease arrangement is if the freehold title is owned by the leaseholders. In this scenario the leaseholders have control and even though a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants. What is the maintenance charge and ground rent on the flat? It is important to be aware whether window replacement or some other significant cost is due shortly to be shared between the tenants and could well materially increase the the maintenance costs or require a specific invoice.

Other Topics

Lease Extensions in Gainsborough