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Top Five Questions relating to Raglan leasehold conveyancing

I am in need of some leasehold conveyancing in Raglan. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Raglan - 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 recently realised that I have 68 years left on my lease in Raglan. I need to get lease extension but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist should be useful to carry out a search and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Raglan.

I work for a busy estate agency in Raglan where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Raglan conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities 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. This means that the buyer can avoid having to wait 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 at the same time as 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.

Do you have any top tips for leasehold conveyancing in Raglan from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Raglan can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers solicitors.
  • Many landlords or Management Companies in Raglan charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Raglan.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Raglan leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such works. Where you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer first.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming process and slows down many a Raglan home move. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on the sale of our £375000 garden flat in Raglan next Tuesday . The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Raglan?

    Raglan conveyancing on leasehold apartments more often than not requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.

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

      In the main the outlay for major works tend not to be incorporated into the service charges, although there some managing agents in Raglan require leaseholders to pay into a reserve fund created for the specific intention of establishing a fund for larger works. If a Raglan lease has less than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your bank that they are content with the length of the lease. A short lease means that you will most likely require a lease extension at some point and it is worth finding out how much this will be. For most Raglanlease extensions you would be be obliged to have owned the property for a couple of years in order to be eligible to extend the lease. How much is the service charge and ground rent on the apartment?

    Other Topics

    Lease Extensions in Raglan