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While any conveyancing practice can theoretically handle your leasehold conveyancing in Tynemouth, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Tynemouth leasehold conveyancing

I am in need of some leasehold conveyancing in Tynemouth. Before diving in I require certainty as to the remaining lease term.

If the lease is registered - and 99.9% are in Tynemouth - 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.

Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Tynemouth. I now want to extend my lease but my landlord is can not be found. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 demonstrate that you have made all reasonable attempts to track down the landlord. On the whole a specialist may be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Tynemouth.

I am hoping to complete next month on a studio apartment in Tynemouth. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Tynemouth should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the apartment itself but may include a loft or basement if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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 a comprehensive list of information to be included in your report on your leasehold property in Tynemouth please ask your conveyancer in advance of your conveyancing in Tynemouth

    • If all goes to plan we aim to complete the disposal of our £500000 maisonette in Tynemouth on Thursday in a week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Tynemouth?

    Tynemouth conveyancing on leasehold maisonettes often involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Are there frequently found defects that you come across in leases for Tynemouth properties?

    Leasehold conveyancing in Tynemouth is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Alliance & Leicester 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 provide security, obliging the buyer to withdraw.

    I acquired a 1 bedroom flat in Tynemouth, conveyancing formalities finalised 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Tynemouth with a long lease are worth £230,000. The ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2091

    With only 65 years unexpired the likely cost is going to span between £12,400 and £14,200 as well as legals.

    The figure 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 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 considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tynemouth