I own a leasehold house in Easthampstead. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Easthampstead who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Easthampstead conveyancing firm to do this as it can be done on-line for £3. You should note 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 am looking at a couple of maisonettes in Easthampstead both have about fifty years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Easthampstead is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Easthampstead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

When appointing a property lawyer for lease extension works (regardless if they are a Easthampstead conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Easthampstead conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?
• What are the costs for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Easthampstead from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Easthampstead can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
• Some Easthampstead leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
• If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a new share certificate can be a lengthy formality and slows down many a Easthampstead home move. If a new share is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

We expect to complete the sale of our £ 400000 flat in Easthampstead on Tuesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Easthampstead?

Easthampstead conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They may invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to sell the property.

I bought a garden flat in Easthampstead, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Easthampstead with a long lease are worth £252,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2082

With only 56 years left to run we estimate the price of your lease extension to span between £24,700 and £28,600 as well as legals.

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 due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.