I am on look out for some leasehold conveyancing in Horfield. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Horfield - 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 only have Seventy years remaining on my flat in Horfield. I now want to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, 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 enable the lease to be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. In some cases an enquiry agent may be helpful to conduct investigations and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Horfield.

I am attracted to a couple of maisonettes in Horfield both have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Horfield is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Horfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any advice for leasehold conveyancing in Horfield from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Horfield can be bypassed if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers solicitors.
• The majority landlords or Management Companies in Horfield levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Horfield.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Horfield state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such works. If you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer before hand.
• A minority of Horfield leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 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 Management Company, you should make sure that you have the original share document. Obtaining a duplicate share certificate can be a lengthy formality and delays many a Horfield conveyancing transaction. Where a duplicate share certificate is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 225000 garden flat in Horfield in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Horfield?

Horfield conveyancing on leasehold flats often involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They are entitled invoice a reasonable administration fee 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 transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I invested in buying a leasehold flat in Horfield, conveyancing was carried out 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Horfield with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2082

With only 56 years remaining on your lease the likely cost is going to range between £28,500 and £33,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.