Leasehold Conveyancing in The Hale - Get a Quote from the leasehold experts approved by your lender

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The Hale leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in The Hale. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in The Hale - 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 a negotiator for a long established estate agency in The Hale where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local The Hale conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 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 at the same time as completion of the sale.

An alternative approach is 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 finding a The Hale conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a The Hale conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non The Hale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How many lease extensions has the firm conducted in The Hale in the last twenty four months?
  • What are the charges for lease extension conveyancing?

  • We expect to complete our sale of a £475000 garden flat in The Hale next week. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in The Hale?

    The Hale conveyancing on leasehold maisonettes ordinarily results in administration charges levied by landlords agents :

    • Answering pre-exchange questions
    • Where consent is required before sale in The Hale
    • Supplying insurance information
    • 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 The Hale leasehold property is £350. For The Hale 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 obliged to provide answers.

    Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in The Hale. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We are happy to put you in touch with a The Hale conveyancing firm who can help.

    An example of a Lease Extension decision for a The Hale property is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The unexpired term was 71.55 years.

    What makes a The Hale lease problematic?

    There is nothing unique about leasehold conveyancing in The Hale. All leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have a problem 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, Barnsley Building Society, and TSB 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 defective they may refuse to provide security, obliging the buyer to pull out.