I am in need of some leasehold conveyancing in Woodbury. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Woodbury - 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 am attracted to a two maisonettes in Woodbury both have in the region of 50 years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Woodbury. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

What advice can you give us when it comes to appointing a Woodbury conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Woodbury conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Woodbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• Can they put you in touch with client in Woodbury who can give a testimonial?

What are the legal fees for lease extension work?

Can you provide any top tips for leasehold conveyancing in Woodbury with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Woodbury can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
• Many landlords or managing agents in Woodbury levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Woodbury.

If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.

If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate is often a lengthy formality and slows down many a Woodbury home move. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on our sale of a £200000 garden flat in Woodbury next week. The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Woodbury?

Woodbury conveyancing on leasehold apartments usually involves fees being levied by freeholders :

• Addressing pre-contract enquiries
• Where consent is required before sale in Woodbury
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Woodbury leasehold premises is £350. For Woodbury 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 required to provide answers.

I am the registered owner of a garden flat in Woodbury, conveyancing was carried out 2000. How much will my lease extension cost? Comparable properties in Woodbury with an extended lease are worth £204,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2075

With just 50 years remaining on your lease we estimate the premium for your lease extension to span between £39,900 and £46,200 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Woodbury