I am on look out for some leasehold conveyancing in Saltash. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Saltash - 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 work for a busy estate agent office in Saltash where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Saltash conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

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. This means that the buyer need not have to sit tight for 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.

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.

What are your top tips when it comes to finding a Saltash conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Saltash conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Saltash conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

Completion in due on our sale of a £425000 apartment in Saltash on Tuesday in a week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Saltash?

Saltash conveyancing on leasehold flats normally requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded if you want to complete the sale of your home.

Are there common deficiencies that you witness in leases for Saltash properties?

There is nothing unique about leasehold conveyancing in Saltash. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

I acquired a ground floor flat in Saltash, conveyancing formalities finalised 2005. Can you work out an approximate cost of a lease extension? Equivalent properties in Saltash with over 90 years remaining are worth £209,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2078

You have 53 years unexpired the likely cost is going to range between £33,300 and £38,400 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure 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 clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Saltash