I am in need of some leasehold conveyancing in Verwood. 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 almost all are in Verwood - 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.

Harry (my fiance) and I may need to sub-let our Verwood garden flat temporarily due to a career opportunity. We used a Verwood conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your last Verwood conveyancing solicitor is not available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am tempted by the attractive purchase price for a two flats in Verwood both have about forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Verwood. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

I am employed by a busy estate agency in Verwood where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Verwood conveyancing firms. Could you shed some light as to whether the seller 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is 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 are your top tips when it comes to choosing a Verwood conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Verwood conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Verwood 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 helpful:

• If the firm is not ALEP accredited then why not?
• Can they put you in touch with client in Verwood who can give a testimonial?

Verwood Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

You should be aware that where the lease has fewer than eighty years it will affect the value of the flat. Check with your bank that they are content with remaining years on the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth discovering how much this will be. For most Verwoodlease extensions you would need to own the premises for a couple of years before you are entitled to extend the lease. Are there any major works on the horizon that will add a premium to the maintenance fees?