I am on look out for some leasehold conveyancing in Mersea Island. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Mersea Island - 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.

My fiance and I may need to let out our Mersea Island basement flat temporarily due to a new job. We used a Mersea Island conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease governs relations between the landlord and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Mersea Island do not contain subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am employed by a reputable estate agent office in Mersea Island where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Mersea Island conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner 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. This means that the proposed purchaser 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 before, or simultaneously with completion of the disposal of the property.

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 buyer.

What advice can you give us when it comes to choosing a Mersea Island conveyancing firm to deal with our lease extension?

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

• Can they put you in touch with client in Mersea Island who can give a testimonial?

Are there frequently found defects that you witness in leases for Mersea Island properties?

There is nothing unique about leasehold conveyancing in Mersea Island. All leases are unique and drafting errors can result in certain clauses are erroneous. 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
• 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

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I purchased a 2 bed flat in Mersea Island, conveyancing was carried out 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Mersea Island with an extended lease are worth £245,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2085

With just 62 years left to run we estimate the price of your lease extension to range between £20,900 and £24,200 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Mersea Island