Planning to exchange soon on a studio apartment in Blaby. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Blaby should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The total extent of the property. This will be the flat itself but may incorporate a roof space or cellar if appropriate.

Defining your legal entitlements in relation to common areas in the block.E.G., does the lease provide for a right of way over a path or hallways?

You need to be told what constitutes a Nuisance in the lease

Changes to the flat (alterations and additions)

Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Blaby please enquire of your conveyancer in advance of your conveyancing in Blaby

Last month I purchased a leasehold house in Blaby. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you offer any advice when it comes to appointing a Blaby conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Blaby conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Blaby conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the firm with lease extension legislation?

If they are not ALEP accredited then why not?

All being well we will complete the disposal of our £300000 flat in Blaby next week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Blaby?

For the majority of leasehold sales in Blaby conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-exchange questions
• Where consent is required before sale in Blaby
• 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 Blaby leasehold property is £350. For Blaby 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 required to supply the information.

In relation to leasehold conveyancing in Blaby what are the most frequent lease problems?

Leasehold conveyancing in Blaby is not unique. Most leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Britannia all have express conveyancing instructions 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.

I invested in buying a 1 bedroom flat in Blaby, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Blaby with a long lease are worth £210,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2101

With only 75 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in Blaby