I am on look out for some leasehold conveyancing in Holywell. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Holywell - 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 hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Holywell. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Holywell are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Holywell so you should seriously consider looking for a Holywell conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I've recently bought a leasehold house in Holywell. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a long established estate agent office in Holywell where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Holywell conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

What advice can you give us when it comes to finding a Holywell conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Holywell conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Holywell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• Can they put you in touch with client in Holywell who can give a testimonial?
• What are the costs for lease extension conveyancing?

I am the registered owner of a basement flat in Holywell, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Holywell with a long lease are worth £265,000. The average or mid-range amount of ground rent is £65 yearly. The lease runs out on 21st October 2096

With only 70 years left to run we estimate the premium for your lease extension to span between £15,200 and £17,600 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.