Planning to sign contracts shortly on a basement flat in Aspley Guise. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?

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

• 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
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

I am attracted to a two apartments in Aspley Guise both have about fifty years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Aspley Guise. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is 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 get professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a reputable estate agent office in Aspley Guise where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Aspley Guise conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Can you provide any advice for leasehold conveyancing in Aspley Guise from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Aspley Guise can be bypassed if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• The majority landlords or managing agents in Aspley Guise charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Aspley Guise.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Aspley Guise leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer in advance.
• If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming process and slows down many a Aspley Guise home move. Where a reissued share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete our sale of a £ 400000 flat in Aspley Guise on Friday in a week. 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 an administration fee for a flat conveyance in Aspley Guise?

Aspley Guise conveyancing on leasehold maisonettes usually necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to sell the property.

I own a 1st floor flat in Aspley Guise, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Aspley Guise with an extended lease are worth £192,000. The ground rent is £50 yearly. The lease terminates on 21st October 2100

You have 74 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.