I am on look out for some leasehold conveyancing in Chalfont St Giles. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Chalfont St Giles - 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.

Planning to sign contracts shortly on a garden flat in Chalfont St Giles. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

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

• Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease contain a right of way over an accessway or staircase?

Estate agents have just been given the go-ahead to market my 2 bed flat in Chalfont St Giles.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 management companies will not acknowledge the buyer until 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.

I've recently bought a leasehold property in Chalfont St Giles. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. 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).

I work for a reputable estate agent office in Chalfont St Giles where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Chalfont St Giles conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

I invested in buying a basement flat in Chalfont St Giles, conveyancing was carried out 2008. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Chalfont St Giles with over 90 years remaining are worth £261,000. The ground rent is £60 charged once a year. The lease finishes on 21st October 2081

With only 56 years remaining on your lease the likely cost is going to span between £25,700 and £29,600 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 extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

Other Topics

Lease Extensions in Chalfont St Giles