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Frequently asked questions relating to Tetbury leasehold conveyancing

I am in need of some leasehold conveyancing in Tetbury. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Tetbury - 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.

Last month I purchased a leasehold flat in Tetbury. Am I liable to pay service charges relating to a period prior to 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

I work for a busy estate agency in Tetbury where we have witnessed a number of flat sales put at risk due to short leases. I have been given contradictory information from local Tetbury conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease 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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 advice can you give us when it comes to choosing a Tetbury conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Tetbury conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Tetbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any top tips for leasehold conveyancing in Tetbury with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Tetbury can be reduced where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Tetbury 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 information can be applied for on or before finding a buyer, thus reducing delays. 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 Tetbury.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Tetbury leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without checking with your solicitor before hand.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unresolved. You may need to swallow your pride and 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 ahead of 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 ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and slows down many a Tetbury home move. If a new share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I purchased a split level flat in Tetbury, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Tetbury with a long lease are worth £221,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2078

    With just 55 years left to run we estimate the premium for your lease extension to range between £25,700 and £29,600 as well as costs.

    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 in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Tetbury