Having had my offer accepted I require leasehold conveyancing in Houghton Regis. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - and most are in Houghton Regis - 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 am tempted by the attractive purchase price for a couple of apartments in Houghton Regis both have in the region of forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Houghton Regis. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

What advice can you give us when it comes to choosing a Houghton Regis conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Houghton Regis conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Houghton Regis conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• Can they put you in touch with client in Houghton Regis who can give a testimonial?
• What are the costs for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Houghton Regis from the perspective of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Houghton Regis can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Houghton Regis state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place you should not contact the landlord without contacting your conveyancer in advance.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a lengthy process and delays many a Houghton Regis home move. If a duplicate share is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important 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 premises on the market for sale.

Completion in due on the sale of our £ 125000 maisonette in Houghton Regis in just under a week. The management company 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 exorbitant fees for a leasehold conveyance in Houghton Regis?

Houghton Regis conveyancing on leasehold flats usually results in fees being raised by managing agents :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Houghton Regis
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Houghton Regis leasehold property is £350. For Houghton Regis conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

I acquired a studio flat in Houghton Regis, conveyancing was carried out 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Houghton Regis with over 90 years remaining are worth £252,000. The average or mid-range amount of ground rent is £60 yearly. The lease terminates on 21st October 2096

With 70 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.