Having had my offer accepted I require leasehold conveyancing in Umberleigh. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Umberleigh - 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 have just appointed agents to market my 2 bed flat in Umberleigh.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents will not acknowledge the buyer unless 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. This will smooth the conveyancing process.

Back In 2003, I bought a leasehold flat in Umberleigh. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Umberleigh who previously acted has long since retired.What should I do?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Umberleigh conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to appointing a Umberleigh conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Umberleigh conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Umberleigh conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• If they are not ALEP accredited then why not?
• What are the legal fees for lease extension work?

Can you provide any advice for leasehold conveyancing in Umberleigh with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Umberleigh can be reduced if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
• Many landlords or managing agents in Umberleigh levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Umberleigh.
• Some Umberleigh leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy process and slows down many a Umberleigh conveyancing transaction. If a duplicate share certificate is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I purchased a basement flat in Umberleigh, conveyancing was carried out in 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Umberleigh with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2090

With just 64 years remaining on your lease we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.