Due to sign contracts shortly on a basement flat in Booker. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• Does the lease require carpeting throughout thus preventing wood flooring?

You must be told what constitutes a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this is subject to change

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

You should have a good understanding of the insurance provisions

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Booker please ask your lawyer in advance of your conveyancing in Booker

I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Booker. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Booker are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Booker in which case you should be shopping around for a Booker conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am a negotiator for a long established estate agent office in Booker where we see a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Booker conveyancing solicitors. Please can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

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. This means that the buyer 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 prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

Completion in due on our sale of a £150000 maisonette in Booker in just under a week. The management company has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Booker?

Booker conveyancing on leasehold apartments usually involves fees being levied by freeholders :

• Addressing pre-contract questions
• Where consent is required before sale in Booker
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Booker leasehold property is £350. For Booker 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 provide the information.

What makes a Booker lease unmortgageable?

Leasehold conveyancing in Booker is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• 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

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Alliance & Leicester 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.

I bought a basement flat in Booker, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Booker with over 90 years remaining are worth £264,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease runs out on 21st October 2076

With only 51 years remaining on your lease we estimate the price of your lease extension to span between £41,800 and £48,400 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

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Lease Extensions in Booker