I am on look out for some leasehold conveyancing in Yate. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Yate - 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 have just started marketing my garden flat in Yate.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am a negotiator for a reputable estate agent office in Yate where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Yate conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

What are your top tips when it comes to appointing a Yate conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Yate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Yate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• What are the charges for lease extension conveyancing?

Do you have any top tips for leasehold conveyancing in Yate with the intention of expediting the sale process?

• Much of the delay in leasehold conveyancing in Yate can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
• The majority freeholders or managing agents in Yate levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Yate.
• Some Yate leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 buyers or their solicitors.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
• 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 new share certificate is often a lengthy formality and delays many a Yate conveyancing deal. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

Yate Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing

Most Yate leasehold properties will have a service bill for the upkeep of the building set by the management company. Where you acquire the apartment you will have to meet this contribution, usually in instalments accross the year. This can differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, this is usually not a large sum, say about £50-£100 but you need to enquire it because occasionally it can be prohibitively expensive. It would be prudent to discover as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the upkeep of the communal areas. Ask other tenants what they think of their management. In conclusion, be sure you know the dates that the service charges are due to the managing agents and precisely what it includes. Is anyone aware of any major works in the near future that could add a premium to the maintenance fees?