I am on look out for some leasehold conveyancing in Ratcliff. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Ratcliff - 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 employed by a reputable estate agent office in Ratcliff where we have experienced a few flat sales derailed due to short leases. I have been given inconsistent advice from local Ratcliff conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?

As long as 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. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

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.

Can you offer any advice when it comes to appointing a Ratcliff conveyancing practice to carry out our lease extension conveyancing?

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

• How many lease extensions have they carried out in Ratcliff in the last twenty four months?
• Can they put you in touch with client in Ratcliff who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Ratcliff from the point of view of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Ratcliff can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
• Some Ratcliff leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unsettled.
• If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy formality and slows down many a Ratcliff home move. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

We expect to complete the sale of our £ 225000 garden flat in Ratcliff in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Ratcliff?

For most leasehold sales in Ratcliff conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract enquiries
• Where consent is required before sale in Ratcliff
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Ratcliff leasehold premises is £350. For Ratcliff conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Ratcliff conveyancing firm to act on my behalf?

You certainly can. We can put you in touch with a Ratcliff conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Ratcliff premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The the number of years remaining on the existing lease(s) was 101.61 years.

I am the registered owner of a garden flat in Ratcliff, conveyancing having been completed in 1999. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Ratcliff with a long lease are worth £205,000. The ground rent is £65 per annum. The lease terminates on 21st October 2106

With 80 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously 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.