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

If the lease is recorded at the land registry - and most are in Swadlincote - 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.

There are only 68 years unexpired on my flat in Swadlincote. I now want to extend my lease but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist would be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Swadlincote.

I am looking at a two maisonettes in Swadlincote which have about fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Swadlincote. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

I work for a busy estate agent office in Swadlincote where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Swadlincote conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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.

If all goes to plan we aim to complete the sale of our £200000 apartment in Swadlincote in 5 days. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Swadlincote?

Swadlincote conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Leasehold Conveyancing in Swadlincote - Sample of Queries before buying

How is the lease structured? Please tell me if there are any major works on the horizon that will likely increase the maintenance fees? The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this arrangement the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Swadlincote