I am in need of some leasehold conveyancing in Halstead. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Halstead - 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.

I am intending to let out my leasehold flat in Halstead. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your last Halstead conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am a negotiator for a reputable estate agent office in Halstead where we have experienced a number of leasehold sales derailed as a result of short leases. I have received conflicting advice from local Halstead conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that 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 has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is 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 purchaser.

Do you have any top tips for leasehold conveyancing in Halstead from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Halstead can be avoided if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
• The majority landlords or Management Companies in Halstead charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Halstead.

What are the common defects that you see in leases for Halstead properties?

There is nothing unique about leasehold conveyancing in Halstead. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

I own a leasehold flat in Halstead, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Halstead with over 90 years remaining are worth £170,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2101

With only 76 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Halstead