I am on look out for some leasehold conveyancing in St Leonards On Sea. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in St Leonards On Sea - 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 attracted to a couple of apartments in St Leonards On Sea which have approximately forty five years left on the lease term. should I be concerned?

A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

I work for a long established estate agent office in St Leonards On Sea where we have experienced a number of flat sales derailed as a result of short leases. I have been given conflicting advice from local St Leonards On Sea conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 purchaser.

What are your top tips when it comes to finding a St Leonards On Sea conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a St Leonards On Sea conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non St Leonards On Sea conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• Can they put you in touch with client in St Leonards On Sea who can give a testimonial?

In relation to leasehold conveyancing in St Leonards On Sea what are the most common lease problems?

There is nothing unique about leasehold conveyancing in St Leonards On Sea. Most leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Mortgage Works, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I acquired a 1 bedroom flat in St Leonards On Sea, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in St Leonards On Sea with an extended lease are worth £228,000. The ground rent is £45 yearly. The lease runs out on 21st October 2087

With 63 years unexpired we estimate the premium for your lease extension to be between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range 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 in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in St Leonards On Sea