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

Assuming the lease is registered - and most are in Grays - 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.

Looking forward to complete next month on a basement flat in Grays. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Grays should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the demise. This will be the property itself but might incorporate a roof space or cellar if appropriate.
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am attracted to a couple of flats in Grays which have in the region of 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Grays is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and banks, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Grays conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to finding a Grays conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Grays conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Grays 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 what is the reason?
• What are the costs for lease extension work?

Do you have any top tips for leasehold conveyancing in Grays with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Grays can be reduced where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
• The majority landlords or Management Companies in Grays levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Grays.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Grays leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such alterations. Where you dont have the consents to hand you should not communicate with the landlord without contacting your solicitor in advance.
• Some Grays leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You may need to swallow your pride and 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.

Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Grays. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to calculate the sum to be paid.

An example of a Lease Extension case for a Grays property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired term was 76 years.

Grays Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments?