I am on look out for some leasehold conveyancing in Accrington. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and almost all are in Accrington - 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.

You should [be sent a copy of the lease|receive a copy of the lease]

Planning to exchange soon on a studio apartment in Accrington. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Accrington should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• What the implications are if you breach a clause of your lease?

For a comprehensive list of information to be contained in your report on your leasehold property in Accrington please enquire of your conveyancer in ahead of your conveyancing in Accrington

I am looking at a couple of flats in Accrington both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

I am employed by a reputable estate agency in Accrington where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Accrington conveyancing solicitors. Please can you clarify whether the seller of a flat can initiate the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having 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 disposal of the property.

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 purchaser.

All being well we will complete the sale of our £ 375000 apartment in Accrington in 5 days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Accrington?

For the majority of leasehold sales in Accrington 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-exchange questions
• Where consent is required before sale in Accrington
• 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 Accrington leasehold premises is £350. For Accrington 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 required to provide the information.

I purchased a 1 bedroom flat in Accrington, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Accrington with over 90 years remaining are worth £217,000. The ground rent is £60 per annum. The lease ends on 21st October 2098

With 72 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as 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 supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.