I am on look out for some leasehold conveyancing in Penshaw. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Penshaw - 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 have recently realised that I have 62 years remaining on my flat in Penshaw. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the freeholder. In some cases a specialist would be useful to carry out a search and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Penshaw.

Expecting to sign contracts shortly on a leasehold property in Penshaw. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Penshaw should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

What advice can you give us when it comes to appointing a Penshaw conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Penshaw conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Penshaw conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then what is the reason?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 garden flat in Penshaw on Monday in a week. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Penshaw?

Penshaw conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.

Penshaw Leasehold Conveyancing - Sample of Queries before buying

You should be aware if it is fewer than 80 years it will impact the salability of the flat. It is worth checking with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for a couple of years in order to be entitled to carry out a lease extension. The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this situation the tenants enjoy control and notwithstanding that a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease include onerous restrictions?

Other Topics

Lease Extensions in Penshaw