Having had my offer accepted I require leasehold conveyancing in Great Wyrley. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Great Wyrley - then the leasehold title will always include the short particulars 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 today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Great Wyrley. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Great Wyrley ?

Most houses in Great Wyrley are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Great Wyrley so you should seriously consider looking for a Great Wyrley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold flat in Great Wyrley. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Great Wyrley who previously acted has now retired.Any advice?

First contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Great Wyrley conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Great Wyrley both have about forty five years unexpired on the leases. should I be concerned?

There are plenty of short leases in Great Wyrley. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a long established estate agent office in Great Wyrley where we see a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Great Wyrley conveyancing solicitors. Could you confirm whether the seller of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

I acquired a ground floor flat in Great Wyrley, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Great Wyrley with a long lease are worth £242,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2075

With only 50 years unexpired we estimate the premium for your lease extension to span between £33,300 and £38,400 plus costs.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in Great Wyrley