I am in need of some leasehold conveyancing in Quedgeley. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is registered - and most are in Quedgeley - 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 intending to let out my leasehold flat in Quedgeley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Quedgeley conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. This means that you cannot sublet without prior consent. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am looking at a two apartments in Quedgeley both have in the region of forty five years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Quedgeley 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 salability of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. 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 property 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 Quedgeley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

If all goes to plan we aim to complete the disposal of our £325000 garden flat in Quedgeley on Monday in a week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Quedgeley?

For most leasehold sales in Quedgeley conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract questions
• Where consent is required before sale in Quedgeley
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Quedgeley leasehold property is £350. For Quedgeley 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 supply the information.

In relation to leasehold conveyancing in Quedgeley what are the most frequent lease defects?

Leasehold conveyancing in Quedgeley is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Barnsley Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I purchased a 1st floor flat in Quedgeley, conveyancing formalities finalised 2002. How much will my lease extension cost? Comparable flats in Quedgeley with over 90 years remaining are worth £199,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2092

With only 67 years unexpired the likely cost is going to be between £15,200 and £17,600 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Quedgeley