Looking forward to exchange soon on a basement flat in Coleford. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Does the lease require carpeting throughout thus preventing wood flooring?

Will you be prohibited or prevented from having pets in the property?

Whether the lease restricts you from renting out the property, or having a home office for business

You need to be told what counts as a Nuisance in the lease

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Coleford please enquire of your solicitor in ahead of your conveyancing in Coleford

Estate agents have just been given the go-ahead to market my ground floor flat in Coleford.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

The sensible thing to do is pay 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 am employed by a busy estate agent office in Coleford where we see a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Coleford conveyancing solicitors. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 needs to be completed before, or at the same time as completion of the sale.

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.

What advice can you give us when it comes to appointing a Coleford conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Coleford conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Coleford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

Can they put you in touch with client in Coleford who can give a testimonial?

If all goes to plan we aim to complete our sale of a £475000 garden flat in Coleford on Monday in a week. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Coleford?

For the majority of leasehold sales in Coleford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-exchange questions
• 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 solicitor 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 obliged to provide the information.

I purchased a studio flat in Coleford, conveyancing formalities finalised 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Coleford with over 90 years remaining are worth £194,000. The ground rent is £45 yearly. The lease ceases on 21st October 2075

With 50 years remaining on your lease we estimate the premium for your lease extension to range between £34,200 and £39,600 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 advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Coleford