I am on look out for some leasehold conveyancing in Priorslee. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Priorslee - 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 have just started marketing my garden flat in Priorslee.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

It best that you clear 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 managing agents 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've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Priorslee. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Priorslee ?

The majority of houses in Priorslee are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Priorslee so you should seriously consider looking for a Priorslee conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I work for a long established estate agency in Priorslee where we have experienced a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Priorslee conveyancing solicitors. Could you clarify whether the seller of a flat can instigate 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 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 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.

Completion in due on the sale of our £425000 maisonette in Priorslee in just under a week. The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Priorslee?

Priorslee conveyancing on leasehold apartments more often than not necessitates the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They may charge a reasonable charge 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 £350, in some cases it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to sell the property.

I acquired a split level flat in Priorslee, conveyancing formalities finalised 2006. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Priorslee with an extended lease are worth £170,000. The ground rent is £55 per annum. The lease expires on 21st October 2081

You have 56 years remaining on your lease we estimate the premium for your lease extension to range between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt 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 based on this information without first getting professional advice.

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Lease Extensions in Priorslee