I am attracted to a couple of maisonettes in Rawcliffe which have in the region of 50 years remaining on the leases. Will this present a problem?

There are plenty of short leases in Rawcliffe. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a reputable estate agent office in Rawcliffe where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Rawcliffe conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

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

If you are instructing a solicitor for lease extension works (regardless if they are a Rawcliffe conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Rawcliffe conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How many lease extensions have they completed in Rawcliffe in the last twenty four months?
• What are the legal fees for lease extension work?

Do you have any top tips for leasehold conveyancing in Rawcliffe from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Rawcliffe can be reduced if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
• Many landlords or managing agents in Rawcliffe charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Rawcliffe.
• A minority of Rawcliffe leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The 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 purchasers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a new share certificate is often a lengthy process and slows down many a Rawcliffe home move. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

All being well we will complete the disposal of our £ 250000 maisonette in Rawcliffe in nine days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Rawcliffe?

Rawcliffe conveyancing on leasehold maisonettes typically involves administration charges invoiced by managing agents :

• Completing pre-exchange enquiries
• Where consent is required before sale in Rawcliffe
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Rawcliffe leasehold property is £350. For Rawcliffe conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

Leasehold Conveyancing in Rawcliffe - Examples of Questions you should consider Prior to buying

If a Rawcliffe lease has fewer than eighty years it will impact the value of the flat. Check with your lender that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you would be required to have been the owner of the residence for 24 months before you are eligible to exercise a lease extension.