Looking forward to complete next month on a studio apartment in Cottenham. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease grant a right of way over a path or staircase?
• Are you allowed to have a pet in the flat?
• 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
• 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
• You should have a good understanding of the insurance provisions
• What the implications are if you breach a clause of your lease?

I am looking at a two apartments in Cottenham both have in the region of fifty years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Cottenham. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold house in Cottenham. Do I have any liability for service charges for periods before my ownership?

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. Strange as it may seem, 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).

What advice can you give us when it comes to finding a Cottenham conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Cottenham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Cottenham 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 helpful:

• What volume of lease extensions has the firm carried out in Cottenham in the last twenty four months?
• Can they put you in touch with client in Cottenham who can give a testimonial?

Are there common defects that you encounter in leases for Cottenham properties?

There is nothing unique about leasehold conveyancing in Cottenham. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express 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, forcing the buyer to pull out.

I purchased a 1st floor flat in Cottenham, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Cottenham with a long lease are worth £216,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2079

With only 53 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.