Planning to exchange soon on a ground floor flat in Flint. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Whether your lease has a provision for a sinking fund?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• What options are open to you if a neighbour breach a clause of their lease?

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Flint. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Flint are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Flint so you should seriously consider looking for a Flint conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I am looking at a couple of maisonettes in Flint which have approximately fifty years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Flint with the purpose of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Flint can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• Many landlords or managing agents in Flint charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Flint.
• A minority of Flint leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Organising a duplicate share certificate is often a time consuming formality and delays many a Flint conveyancing deal. Where a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

What are the frequently found defects that you witness in leases for Flint properties?

Leasehold conveyancing in Flint is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

I invested in buying a leasehold flat in Flint, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Flint with over 90 years remaining are worth £246,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2077

With 51 years unexpired the likely cost is going to span between £34,200 and £39,600 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.