I am in need of some leasehold conveyancing in Shaftesbury. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Shaftesbury - 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 looking at a two maisonettes in Shaftesbury both have approximately fifty years unexpired on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold property in Shaftesbury. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Shaftesbury from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Shaftesbury can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Shaftesbury leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor in the first instance.

If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 reveal the dispute as historic rather than ongoing.

If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and slows down many a Shaftesbury home move. Where a reissued share certificate is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible.

You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete the disposal of our £150000 flat in Shaftesbury next Tuesday . The landlords agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shaftesbury?

Shaftesbury conveyancing on leasehold maisonettes ordinarily involves administration charges raised by management companies :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Shaftesbury
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Shaftesbury leasehold premises is £350. For Shaftesbury 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 obliged to provide the information.

I invested in buying a basement flat in Shaftesbury, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Shaftesbury with a long lease are worth £170,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2076

With just 51 years left to run the likely cost is going to range between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Shaftesbury