Planning to complete next month on a leasehold property in Accrington. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Does the lease require carpeting throughout thus preventing wood flooring?
• Does the lease prevent you from renting out the flat, or working from home
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What you can do if a neighbour is in violation of a provision in their lease?

I am attracted to a two apartments in Accrington which have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold flat in Accrington. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Accrington from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Accrington can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers representatives.
• The majority landlords or managing agents in Accrington charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Accrington.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Accrington state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such works. If you dont have the paperwork to hand you should not contact the landlord without contacting your solicitor before hand.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a duplicate share certificate is often a lengthy process and slows down many a Accrington home move. If a reissued share certificate is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.

All being well we will complete the disposal of our £ 325000 maisonette in Accrington next Tuesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Accrington?

Accrington conveyancing on leasehold apartments usually requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I acquired a 1st floor flat in Accrington, conveyancing was carried out 2005. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Accrington with over 90 years remaining are worth £251,000. The ground rent is £50 per annum. The lease finishes on 21st October 2079

With just 53 years remaining on your lease the likely cost is going to span between £30,400 and £35,200 as well as legals.

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 comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.