I am in need of some leasehold conveyancing in Ryhope. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Ryhope - 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've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Ryhope. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Ryhope ?

The majority of houses in Ryhope are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Ryhope so you should seriously consider shopping around for a Ryhope conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

Back In 2002, I bought a leasehold flat in Ryhope. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Ryhope who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Ryhope conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a busy estate agency in Ryhope where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Ryhope conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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.

When it comes to leasehold conveyancing in Ryhope what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Ryhope. All leases are unique and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Bank of Scotland, and Godiva Mortgages Ltd 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 purchaser to withdraw.

I own a leasehold flat in Ryhope, conveyancing was carried out 3 years ago. How much will my lease extension cost? Similar properties in Ryhope with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2097

With 72 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Ryhope