Having had my offer accepted I require leasehold conveyancing in Sandiacre. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Sandiacre - 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 am attracted to a two maisonettes in Sandiacre which have approximately 50 years remaining on the leases. should I be concerned?

There are plenty of short leases in Sandiacre. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

I am employed by a reputable estate agent office in Sandiacre where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Sandiacre conveyancing firms. Please can you confirm whether the owner of a flat can initiate 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. The benefit of this is that the buyer 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 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 buyer.

What advice can you give us when it comes to appointing a Sandiacre conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Sandiacre conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Sandiacre conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?
• What are the charges for lease extension work?

Do you have any advice for leasehold conveyancing in Sandiacre from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Sandiacre can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
• The majority landlords or Management Companies in Sandiacre charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. 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 frequent reason for delay in leasehold conveyancing in Sandiacre.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Sandiacre leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the consents to hand do not communicate with the landlord without checking with your lawyer first.
• If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 better to reveal the dispute as over as opposed to unresolved.
• If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a replacement share certificate is often a lengthy formality and frustrates many a Sandiacre conveyancing deal. If a reissued share certificate is needed, do contact the company officers or managing agents (where relevant) for this as soon as possible.

Sandiacre Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

For many Sandiacre leaseholds the outlay for major works are not included within service charges, although a few managing agents in Sandiacre ask leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.