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

If the lease is registered - and 99.9% are in Kingswood - 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 want to sublet my leasehold apartment in Kingswood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Kingswood conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or some other party before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I am tempted by the attractive purchase price for a couple of flats in Kingswood both have about forty five years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Kingswood is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with under 75 years become less and less attractive. 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 premises 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 Kingswood conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £500000 flat in Kingswood in 10 days. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Kingswood?

Kingswood conveyancing on leasehold apartments normally requires the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

What are the frequently found problems that you encounter in leases for Kingswood properties?

There is nothing unique about leasehold conveyancing in Kingswood. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Aldermore all have very detailed conveyancing instructions 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 grant the mortgage, obliging the buyer to withdraw.

I purchased a 1 bedroom flat in Kingswood, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Kingswood with over 90 years remaining are worth £213,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2095

You have 71 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as 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 detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

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Lease Extensions in Kingswood