Having had my offer accepted I require leasehold conveyancing in Buckingham. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Buckingham - 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 wish to let out my leasehold apartment in Buckingham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Some leases for properties in Buckingham do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Expecting to exchange soon on a studio apartment in Buckingham. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• You should have a good understanding of the insurance provisions
• 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.
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I've recently bought a leasehold property in Buckingham. 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 owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Do you have any top tips for leasehold conveyancing in Buckingham with the purpose of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Buckingham can be avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers conveyancers.
• Some Buckingham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
• If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy process and slows down many a Buckingham conveyancing transaction. If a reissued share certificate is required, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 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 home on the market for sale.

I bought a leasehold flat in Buckingham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Buckingham with an extended lease are worth £172,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2078

With just 52 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus professional fees.

The figure 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 in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.