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

Assuming the lease is registered - and most are in Sipson - 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 tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Sipson. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Sipson ?

Most houses in Sipson are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Sipson so you should seriously consider shopping around for a Sipson conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

I work for a reputable estate agency in Sipson where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Sipson conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 before, 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.

Can you offer any advice when it comes to choosing a Sipson conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Sipson conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Sipson conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How many lease extensions has the firm conducted in Sipson in the last year?
• Can they put you in touch with client in Sipson who can give a testimonial?

Do you have any advice for leasehold conveyancing in Sipson with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Sipson can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
• Many freeholders or managing agents in Sipson levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Sipson.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Sipson leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such changes. Where you dont have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
• A minority of Sipson leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and slows down many a Sipson conveyancing deal. If a reissued share is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sipson. Can we issue an application to the Residential Property Tribunal Service?

Most certainly. We can put you in touch with a Sipson conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Sipson residence is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The remaining number of years on the lease was 69 years.

I purchased a studio flat in Sipson, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Sipson with a long lease are worth £220,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2086

With 60 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.