I am in need of some leasehold conveyancing in Mirfield. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Mirfield - 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.

Expecting to sign contracts shortly on a garden flat in Mirfield. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

• The total extent of the demise. This will be the flat itself but may incorporate a loft or cellar if appropriate.

I am tempted by the attractive purchase price for a couple of flats in Mirfield both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Mirfield. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a reputable estate agency in Mirfield where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Mirfield conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 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 before, or at the same time as completion of the sale.

An alternative approach is 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.

What makes a Mirfield lease problematic?

There is nothing unique about leasehold conveyancing in Mirfield. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties 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, Norwich and Peterborough Building Society, and Alliance & Leicester 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 does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I inherited a garden flat in Mirfield, conveyancing was carried out 1998. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Mirfield with a long lease are worth £267,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2076

With just 51 years left to run we estimate the price of your lease extension to be between £40,900 and £47,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional 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.

Other Topics

Lease Extensions in Mirfield