Due to exchange soon on a studio apartment in Cotswolds. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

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

• You must be told what constitutes a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Whether your lease has a provision for a reserve fund?

You should have a good understanding of the insurance provisions

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

Responsibility for repairing the window frames

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

Back In 2004, I bought a leasehold house in Cotswolds. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Cotswolds who previously acted has now retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Cotswolds conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two flats in Cotswolds both have approximately 50 years left on the leases. Will this present a problem?

There are plenty of short leases in Cotswolds. The lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

Completion in due on our sale of a £125000 apartment in Cotswolds in 5 days. The managing agents has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Cotswolds?

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

• Addressing pre-exchange enquiries
• Where consent is required before sale in Cotswolds
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Cotswolds leasehold premises is £350. For Cotswolds 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 supply the information.

What makes a Cotswolds lease unmortgageable?

There is nothing unique about leasehold conveyancing in Cotswolds. Most leases are unique and legal mistakes in the legal wording can result in 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

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.

I inherited a basement flat in Cotswolds, conveyancing was carried out 1995. How much will my lease extension cost? Comparable properties in Cotswolds with over 90 years remaining are worth £258,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2093

With just 68 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Cotswolds