I am on look out for some leasehold conveyancing in Leighton Buzzard. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Leighton Buzzard - 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.

My wife and I purchased a leasehold flat in Leighton Buzzard. Conveyancing and Barclays Direct mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Leighton Buzzard who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Leighton Buzzard conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agency in Leighton Buzzard where we have witnessed a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Leighton Buzzard conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?

As long as 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 wait 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 disposal of the property.

Alternatively, it may be possible 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.

What advice can you give us when it comes to choosing a Leighton Buzzard conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Leighton Buzzard conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Leighton Buzzard conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

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

Can you provide any top tips for leasehold conveyancing in Leighton Buzzard with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Leighton Buzzard can be reduced if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
• The majority landlords or Management Companies in Leighton Buzzard levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Leighton Buzzard.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Leighton Buzzard leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you fail to have the paperwork to hand you should not contact the landlord without contacting your lawyer in the first instance.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy process and delays many a Leighton Buzzard home move. If a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
• You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Leasehold Conveyancing in Leighton Buzzard - Examples of Queries Prior to Purchasing

How many years are left on the lease?