I am in need of some leasehold conveyancing in Presteigne. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Presteigne - then the leasehold title will always include the short particulars 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 am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Presteigne. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Presteigne ?

Most houses in Presteigne are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Presteigne in which case you should be shopping around for a Presteigne conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

Can you provide any top tips for leasehold conveyancing in Presteigne from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Presteigne can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Presteigne state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the approvals to hand you should not contact the landlord without contacting your lawyer before hand.

All being well we will complete the disposal of our £150000 garden flat in Presteigne next week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Presteigne?

Presteigne conveyancing on leasehold flats normally necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They may charge 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 £350, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to complete the sale of your home.

Are there common defects that you come across in leases for Presteigne properties?

Leasehold conveyancing in Presteigne is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. 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 building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I purchased a 2 bed flat in Presteigne, conveyancing was carried out in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Presteigne with over 90 years remaining are worth £270,000. The ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2077

With only 51 years unexpired we estimate the price of your lease extension to span between £37,100 and £42,800 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 in the absence of detailed investigations. You should not use this information 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 placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Presteigne