Having had my offer accepted I require leasehold conveyancing in Swanland. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Swanland - 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Swanland. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Swanland are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Swanland in which case you should be looking for a Swanland conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am a negotiator for a reputable estate agency in Swanland where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Swanland conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Do you have any top tips for leasehold conveyancing in Swanland with the aim of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Swanland can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
• The majority landlords or Management Companies in Swanland levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Swanland.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Swanland state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your conveyancer in advance.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
• You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

What makes a Swanland lease unacceptable for security purposes?

Leasehold conveyancing in Swanland is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I invested in buying a split level flat in Swanland, conveyancing was carried out 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Swanland with a long lease are worth £176,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2086

With 60 years remaining on your lease the likely cost is going to be between £22,800 and £26,400 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.