I am on look out for some leasehold conveyancing in Southville. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Southville - 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 have recently realised that I have 72 years remaining on my lease in Southville. I now wish to get lease extension but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the landlord. For most situations an enquiry agent should be helpful to try and locate and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Southville.

Planning to exchange soon on a leasehold property in Southville. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Southville should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The physical extent of the demise. This will be the flat itself but may incorporate a roof space or cellar if appropriate.

Does the lease prevent you from subletting the property, or working from home

You should have a good understanding of the insurance provisions

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Southville please ask your lawyer in ahead of your conveyancing in Southville

Do you have any advice for leasehold conveyancing in Southville from the point of view of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Southville can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
• The majority freeholders or managing agents in Southville charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Southville.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Southville leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you fail to have the paperwork to hand you should not contact the landlord without checking with your conveyancer before hand.

Some Southville 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 bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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.

You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is 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 property on the market for sale.

Completion in due on our sale of a £175000 maisonette in Southville on Wednesday in a week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Southville?

Southville conveyancing on leasehold maisonettes typically necessitates fees being raised by management companies :

• Addressing pre-contract questions
• Where consent is required before sale in Southville
• Supplying insurance information
• 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 Southville leasehold property is £350. For Southville 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 supply answers.

I am the registered owner of a ground floor flat in Southville, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Southville with a long lease are worth £255,000. The average or mid-range amount of ground rent is £65 per annum. The lease finishes on 21st October 2084

With only 59 years unexpired the likely cost is going to span between £24,700 and £28,600 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Southville