I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Perton. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Perton ?

The majority of houses in Perton are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Perton so you should seriously consider shopping around for a Perton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I am attracted to a two maisonettes in Perton both have about fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Perton. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

I work for a reputable estate agent office in Perton where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Perton conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that 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. This means 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 has to be done prior to, or simultaneously with completion of the disposal of the property.

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.

Can you offer any advice when it comes to appointing a Perton conveyancing firm to deal with our lease extension?

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

• If the firm is not ALEP accredited then why not?

What are the legal fees for lease extension conveyancing?

Completion in due on our sale of a £225000 apartment in Perton on Thursday in a week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Perton?

Perton conveyancing on leasehold flats usually involves fees being invoiced by freeholders :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Perton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Perton leasehold property is £350. For Perton 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.

I purchased a 2 bed flat in Perton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Perton with an extended lease are worth £197,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2087

With only 62 years unexpired the likely cost is going to range between £17,100 and £19,800 as well as legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Perton