Having had my offer accepted I require leasehold conveyancing in Yarm On Tees. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Yarm On Tees - 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’m about to sell my basement flat in Yarm On Tees.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am employed by a busy estate agent office in Yarm On Tees where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Yarm On Tees conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence 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 buyer need not have to sit tight for 2 years to extend their lease. 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.

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 buyer.

What are your top tips when it comes to appointing a Yarm On Tees conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Yarm On Tees conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Yarm On Tees conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?
• What are the costs for lease extension conveyancing?

Do you have any top tips for leasehold conveyancing in Yarm On Tees with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Yarm On Tees can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• The majority landlords or Management Companies in Yarm On Tees charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Yarm On Tees.
• If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and frustrates many a Yarm On Tees conveyancing transaction. Where a new share is required, do contact the company officers or managing agents (where applicable) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider 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 bought a split level flat in Yarm On Tees, conveyancing formalities finalised in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Yarm On Tees with over 90 years remaining are worth £237,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2077

With 51 years unexpired we estimate the premium for your lease extension to range between £39,000 and £45,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.