I have just appointed agents to market my basement flat in Easton.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Easton. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Easton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Easton so you should seriously consider shopping around for a Easton conveyancing solicitor and be sure 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 with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I am looking at a two maisonettes in Easton which have approximately fifty years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Easton is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. 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 Easton 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 the agreed 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.

What advice can you give us when it comes to finding a Easton conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Easton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Easton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the practice with lease extension legislation?
• Can they put you in touch with client in Easton who can give a testimonial?

Completion in due on our sale of a £ 350000 garden flat in Easton next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Easton?

Easton conveyancing on leasehold apartments normally necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

I invested in buying a 1st floor flat in Easton, conveyancing having been completed 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Easton with a long lease are worth £227,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2085

With just 59 years left to run the likely cost is going to span between £21,900 and £25,200 plus costs.

The figure above 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. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.