Expecting to exchange soon on a garden flat in Chalfont St Peter. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Whether the lease restricts you from letting out the property, or having a home office for business
• You need to be told what counts as a Nuisance in the lease
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• 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
• What the implications are if you breach a clause of your lease?

I’m about to sell my ground floor apartment in Chalfont St Peter.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 managing agents will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold flat in Chalfont St Peter. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

I am a negotiator for a long established estate agency in Chalfont St Peter where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Chalfont St Peter conveyancing solicitors. Can you clarify whether the vendor of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 am the leaseholder of a ground-floor 1960’s flat in Chalfont St Peter. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

You certainly can. We are happy to put you in touch with a Chalfont St Peter conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Chalfont St Peter residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The the number of years remaining on the existing lease(s) was 71 years.

What makes a Chalfont St Peter lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Chalfont St Peter. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I bought a leasehold flat in Chalfont St Peter, conveyancing having been completed in 2006. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Chalfont St Peter with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2102

With 76 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.