You should [be sent a copy of the lease|receive a copy of the lease]

I am hoping to exchange soon on a basement flat in Coleford. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• Does the lease require carpeting throughout thus preventing wood flooring?
• Are pets allowed in the flat?
• Does the lease prevent you from subletting the flat, or working from home
• 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
• Whether your lease has a provision for a reserve fund?
• 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 options are open to you if a neighbour is in violation of a provision in their lease?

For a comprehensive list of information to be included in your report on your leasehold property in Coleford please enquire of your conveyancer in ahead of your conveyancing in Coleford

Back In 2001, I bought a leasehold house in Coleford. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Coleford who acted for me is not around.Do I pay?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Coleford conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a reputable estate agent office in Coleford where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Coleford conveyancing firms. Can you clarify whether the seller of a flat can instigate the lease extension formalities 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, 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 buyer.

Do you have any advice for leasehold conveyancing in Coleford from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Coleford can be avoided where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
• Many freeholders or managing agents in Coleford levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Coleford.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Coleford leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. If you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer in advance.
• Some Coleford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the sale of our £ 450000 flat in Coleford in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Coleford?

Coleford conveyancing on leasehold apartments ordinarily necessitates fees being levied by landlords agents :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Coleford
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Coleford leasehold property is £350. For Coleford 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 provide the information.

I am the registered owner of a 2 bed flat in Coleford, conveyancing formalities finalised 7 years ago. How much will my lease extension cost? Equivalent flats in Coleford with an extended lease are worth £247,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2084

With only 58 years remaining on your lease we estimate the price of your lease extension to range between £23,800 and £27,400 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.