Having had my offer accepted I require leasehold conveyancing in Lydiate. 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 most are in Lydiate - 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 would like to let out my leasehold flat in Lydiate. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Even though your last Lydiate conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

I am a negotiator for a reputable estate agency in Lydiate where we have witnessed a few leasehold sales derailed due to short leases. I have received contradictory information from local Lydiate conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

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 buyer.

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

If you are instructing a conveyancer for lease extension works (regardless if they are a Lydiate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Lydiate conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How many lease extensions has the firm conducted in Lydiate in the last twenty four months?

In relation to leasehold conveyancing in Lydiate what are the most frequent lease problems?

Leasehold conveyancing in Lydiate is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. 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.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I acquired a ground floor flat in Lydiate, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent properties in Lydiate with an extended lease are worth £223,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2103

You have 78 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Lydiate