I am in need of some leasehold conveyancing in Swanland. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Swanland - 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 want to sublet my leasehold flat in Swanland. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Your lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Swanland do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am looking at a two maisonettes in Swanland both have approximately 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Swanland. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

I work for a busy estate agent office in Swanland where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Swanland conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension process 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 proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

What makes a Swanland lease problematic?

There is nothing unique about leasehold conveyancing in Swanland. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• 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

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Skipton Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I own a ground floor flat in Swanland, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Swanland with over 90 years remaining are worth £190,000. The ground rent is £50 levied per year. The lease ends on 21st October 2101

With just 75 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.