I’m about to sell my 2 bed apartment in Ashton.Conveyancing has not commenced but I have just had a yearly service charge invoice – Do I pay up?

It best that you clear 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.

My wife and I purchased a leasehold flat in Ashton. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Ashton who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Ashton conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two flats in Ashton both have about forty five years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

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

When appointing a solicitor for lease extension works (regardless if they are a Ashton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Ashton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Ashton who can give a testimonial?

Can you provide any advice for leasehold conveyancing in Ashton with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Ashton can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
• Some Ashton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand 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 purchasers or their lawyers.
• If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Arranging a re-issued share certificate can be a lengthy formality and slows down many a Ashton conveyancing deal. If a duplicate share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I bought a studio flat in Ashton, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Ashton with a long lease are worth £209,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2089

With 63 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.