I am on look out for some leasehold conveyancing in Yarm On Tees. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most 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.

Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Yarm On Tees. I now want to get lease extension but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Yarm On Tees.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Yarm On Tees.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 until 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 a negotiator for a busy estate agency in Yarm On Tees where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Yarm On Tees conveyancing solicitors. Can you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Do you have any top tips for leasehold conveyancing in Yarm On Tees from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Yarm On Tees can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• Many landlords or managing agents in Yarm On Tees charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. 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 reason for delay in leasehold conveyancing in Yarm On Tees.
• A minority of Yarm On Tees leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Organising a re-issued share certificate can be a lengthy process and slows down many a Yarm On Tees home move. Where a reissued share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Yarm On Tees Leasehold Conveyancing - A selection of Questions you should ask before Purchasing