You should [be sent a copy of the lease|receive a copy of the lease]

I am hoping to exchange soon on a ground floor flat in Machen. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Machen should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• Does the lease require carpeting throughout thus preventing wood flooring?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

For details of the information to be included in your report on your leasehold property in Machen please ask your conveyancer in advance of your conveyancing in Machen

I am a negotiator for a long established estate agency in Machen where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Machen conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

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. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. 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 purchaser.

Can you provide any advice for leasehold conveyancing in Machen from the point of view of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Machen can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
• The majority landlords or managing agents in Machen charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Machen.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Machen leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the paperwork to hand do not communicate with the landlord without checking with your conveyancer first.
• Some Machen 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 obtain 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming process and frustrates many a Machen conveyancing transaction. If a new share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

Completion in due on the sale of our £ 500000 garden flat in Machen next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Machen?

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

• Answering conveyancing due diligence questions
• Where consent is required before sale in Machen
• 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 Machen leasehold property is £350. For Machen 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 the information.

In relation to leasehold conveyancing in Machen what are the most frequent lease defects?

Leasehold conveyancing in Machen is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Aldermore 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 grant the mortgage, forcing the buyer to pull out.

I bought a split level flat in Machen, conveyancing formalities finalised in 2006. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Machen with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2083

You have 57 years left to run we estimate the price of your lease extension to be between £28,500 and £33,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.