I am on look out for some leasehold conveyancing in Poundbury. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Poundbury - 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 just started marketing my garden apartment in Poundbury.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am employed by a reputable estate agency in Poundbury where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Poundbury conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

As long as 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. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

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 purchaser.

Can you offer any advice when it comes to choosing a Poundbury conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Poundbury conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Poundbury 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:

• Can they put you in touch with client in Poundbury who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

Can you provide any advice for leasehold conveyancing in Poundbury with the purpose of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Poundbury can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
• A minority of Poundbury leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate can be a lengthy formality and delays many a Poundbury home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
• You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Poundbury Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

How many of the leaseholders are in arrears for their service charge payments? How much is the ground rent and service charge?