I am in need of some leasehold conveyancing in Arlesey. 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 Arlesey - 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.

Expecting to sign contracts shortly on a studio apartment in Arlesey. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Arlesey should include some of the following:

• The total extent of the property. This will be the flat itself but may include a loft or basement if applicable.

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Arlesey. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Arlesey are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Arlesey in which case you should be looking for a Arlesey conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I work for a reputable estate agent office in Arlesey where we see a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Arlesey conveyancing solicitors. Please can you confirm whether the vendor of a flat can commence the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

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.

What advice can you give us when it comes to finding a Arlesey conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Arlesey conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Arlesey conveyancing practices before you 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?

I inherited a leasehold flat in Arlesey, conveyancing having been completed 2005. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Arlesey with over 90 years remaining are worth £250,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2090

With 65 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Arlesey