I am on look out for some leasehold conveyancing in Tetbury. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Tetbury - 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 just started marketing my basement flat in Tetbury.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Last month I purchased a leasehold property in Tetbury. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

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

• A significant proportion of the delay in leasehold conveyancing in Tetbury can be bypassed where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• The majority landlords or Management Companies in Tetbury charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Tetbury.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Tetbury state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Where you fail to have the approvals in place you should not communicate with the landlord without checking with your lawyer in the first instance.

Some Tetbury leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 buyers or their solicitors.

You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an early stage 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.

We expect to complete the disposal of our £475000 garden flat in Tetbury next Friday . The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Tetbury?

For the majority of leasehold sales in Tetbury conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Tetbury
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Tetbury leasehold property is £350. For Tetbury 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 supply the information.

I invested in buying a 2 bed flat in Tetbury, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Tetbury with an extended lease are worth £169,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2098

With just 73 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Tetbury