I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Cringleford. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Cringleford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Cringleford so you should seriously consider shopping around for a Cringleford conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold house in Cringleford. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Cringleford who previously acted has now retired.Do I pay?

First contact the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a Cringleford conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold house in Cringleford. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you offer any advice when it comes to choosing a Cringleford conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Cringleford conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Cringleford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the firm with lease extension legislation?

Can you provide any top tips for leasehold conveyancing in Cringleford from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cringleford can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
• The majority landlords or Management Companies in Cringleford charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cringleford.

I invested in buying a 2 bed flat in Cringleford, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Cringleford with over 90 years remaining are worth £197,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2084

With only 59 years unexpired the likely cost is going to be between £24,700 and £28,600 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

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Lease Extensions in Cringleford