I am on look out for some leasehold conveyancing in Watton. Before diving in I require certainty as to the number of years remaining on the lease.

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

My wife and I purchased a leasehold house in Watton. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Watton who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Watton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a busy estate agency in Watton where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Watton conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

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

When appointing a solicitor for lease extension works (regardless if they are a Watton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Watton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If the firm is not ALEP accredited then what is the reason?

What are the frequently found defects that you come across in leases for Watton properties?

There is nothing unique about leasehold conveyancing in Watton. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• 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

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Coventry Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

I purchased a 1st floor flat in Watton, conveyancing was carried out 2010. 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? Corresponding properties in Watton with an extended lease are worth £174,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2095

With just 69 years remaining on your lease the likely cost is going to be between £12,400 and £14,200 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Watton