Having had my offer accepted I require leasehold conveyancing in Aldersgate. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Aldersgate - 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 am hoping to exchange soon on a basement flat in Aldersgate. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

Does the lease require carpeting throughout thus preventing wood flooring?

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

Responsibility for repairing the window frames

What you can do if a neighbour breach a clause of their lease?

What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Aldersgate please enquire of your lawyer in ahead of your conveyancing in Aldersgate

What are your top tips when it comes to choosing a Aldersgate conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Aldersgate conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Aldersgate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How experienced is the practice with lease extension legislation?

Can they put you in touch with client in Aldersgate who can give a testimonial?

All being well we will complete the disposal of our £150000 garden flat in Aldersgate next Wednesday . The landlords agents has quoted £336 for Landlord’s certificate, 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 Aldersgate?

Aldersgate conveyancing on leasehold flats nine out of ten times involves administration charges raised by landlords agents :

• Answering pre-exchange questions
• Where consent is required before sale in Aldersgate
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Aldersgate leasehold premises is £350. For Aldersgate 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 obliged to supply the information.

After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Aldersgate. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.

An example of a Lease Extension decision for a Aldersgate residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The the unexpired term as at the valuation date was 72.39 years.

When it comes to leasehold conveyancing in Aldersgate what are the most common lease problems?

Leasehold conveyancing in Aldersgate is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• 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

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Coventry Building Society, and Platform Home Loans Ltd all have express 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, forcing the purchaser to withdraw.

Other Topics

Lease Extensions in Aldersgate