I am on look out for some leasehold conveyancing in Blackwood. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Blackwood - 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.

I am a negotiator for a long established estate agency in Blackwood where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Blackwood conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 need not have 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 before, or simultaneously with 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.

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

When appointing a solicitor for lease extension works (regardless if they are a Blackwood conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Blackwood conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the firm with lease extension legislation?

All being well we will complete our sale of a £250000 garden flat in Blackwood in nine days. The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Blackwood?

Blackwood conveyancing on leasehold maisonettes often requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to sell the property.

What makes a Blackwood lease unacceptable for security purposes?

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

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

Blackwood Leasehold Conveyancing - A selection of Questions you should consider Prior to buying

Generally speaking the outlay for major works are not built into the maintenance charges, although a few managing agents in Blackwood obliged tenants to pay into a reserve fund created for the specific intention of building a fund for larger repairs or maintenance. The answer will be useful as a) areas could result in problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will need to have all the details Is anyone aware of any major works in the near future that could add a premium to the service fees?

Other Topics

Lease Extensions in Blackwood