I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Holywell. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Holywell ?

Most houses in Holywell are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Holywell in which case you should be looking for a Holywell conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

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

When appointing a conveyancer for your lease extension (regardless if they are a Holywell conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Holywell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they completed in Holywell in the last twenty four months?
• Can they put you in touch with client in Holywell who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Holywell with the aim of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Holywell can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Holywell leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. If you fail to have the paperwork in place do not contact the landlord without contacting your solicitor first.
• Some Holywell leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Holywell home move. If a duplicate share is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

Completion in due on the sale of our £ 150000 maisonette in Holywell in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Holywell?

Holywell conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.

When it comes to leasehold conveyancing in Holywell what are the most common lease problems?

Leasehold conveyancing in Holywell is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• 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

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Nottingham Building Society 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 is problematic they may refuse to provide security, forcing the buyer to withdraw.

I am the registered owner of a ground floor flat in Holywell, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Holywell with over 90 years remaining are worth £196,000. The ground rent is £55 per annum. The lease ends on 21st October 2097

With only 71 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered 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.