Planning to exchange soon on a garden flat in Pocklington. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

I am employed by a long established estate agent office in Pocklington where we have experienced a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Pocklington conveyancing firms. Please can you shed some light as to 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 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. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Pocklington conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Pocklington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

All being well we will complete our sale of a £200000 garden flat in Pocklington in just under a week. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Pocklington?

Pocklington conveyancing on leasehold apartments normally involves the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

What makes a Pocklington lease problematic?

Leasehold conveyancing in Pocklington is not unique. Most leases are individual and drafting errors can result in certain clauses 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 property
• Insurance obligations
• 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Aldermore 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, obliging the buyer to withdraw.

Pocklington Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

In the main the cost for major works tend not to be included within service charges, albeit that a few managing agents in Pocklington ask leaseholders to pay into a sinking fund and this is used to offset against larger works. Make sure you enquire if the the lease includes any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Pocklington. If you like the propertyin Pocklington however your dog is not allowed to make the move with you then you have a very hard decision. The best form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and even though a managing agent is usually retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Pocklington