Expecting to complete next month on a basement flat in Accrington. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The physical extent of the premises. This will be the flat itself but may incorporate a roof space or cellar if appropriate.
• Does the lease require carpeting throughout thus preventing wood flooring?
• Are pets allowed in the flat?
• You need to be told what constitutes a Nuisance in the lease
• 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
• What the implications are if you breach a clause of your lease?

I have just appointed agents to market my basement flat in Accrington.Conveyancing has not commenced but I have just received a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 attracted to a two flats in Accrington both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Accrington is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and banks, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Accrington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Completion in due on the sale of our £ 325000 garden flat in Accrington on Wednesday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Accrington?

Accrington conveyancing on leasehold maisonettes usually requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are at liberty invoice a reasonable charge 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 in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

What are the common defects that you witness in leases for Accrington properties?

Leasehold conveyancing in Accrington is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Nottingham Building Society all have very detailed 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 provide security, obliging the purchaser to pull out.

Accrington Leasehold Conveyancing - Examples of Questions you should ask Prior to buying