I am a negotiator for a long established estate agency in Gilberdyke where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Gilberdyke conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. 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 disposal of the property.

Alternatively, it may be possible 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 buyer.

What are your top tips when it comes to appointing a Gilberdyke conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Gilberdyke conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Gilberdyke conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• If the firm is not ALEP accredited then why not?
• Can they put you in touch with client in Gilberdyke who can give a testimonial?

Do you have any advice for leasehold conveyancing in Gilberdyke with the purpose of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Gilberdyke can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Gilberdyke leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Should you dont have the consents in place do not contact the landlord without contacting your conveyancer before hand.
• Some Gilberdyke leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, 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 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 purchasers or their lawyers.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet 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 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 reveal the dispute as historic rather than unresolved.
• You believe that you know the number of years remaining on your lease but you should double-check 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 less than 75 years. In the circumstances it is essential at an as soon as possible that you identify 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.

Completion in due on our sale of a £ 225000 garden flat in Gilberdyke next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Gilberdyke?

Gilberdyke conveyancing on leasehold maisonettes normally necessitates administration charges raised by managing agents :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Gilberdyke
• 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 Gilberdyke leasehold premises is £350. For Gilberdyke 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 supply the information.

What are the common problems that you come across in leases for Gilberdyke properties?

Leasehold conveyancing in Gilberdyke is not unique. Most leases are individual and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• 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

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I bought a basement flat in Gilberdyke, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Gilberdyke with a long lease are worth £269,000. The ground rent is £55 invoiced annually. The lease expires on 21st October 2091

With 65 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 as well as professional fees.

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. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.