Planning to complete next month on a leasehold property in Eaton Bray. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Eaton Bray should include some of the following:

• The total extent of the premises. This will be the property itself but might incorporate a loft or basement if applicable.
• Defining your legal entitlements in respect of common areas in the building.For instance, does the lease include a right of way over a path or staircase?
• Are you allowed to have a pet in the flat?
• Whether the lease restricts you from renting out the flat, or working from home
• 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
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

I have just appointed agents to market my garden apartment in Eaton Bray.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – what should I do?

It best that you discharge 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 unless 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. This will smooth the conveyancing process.

I am looking at a two apartments in Eaton Bray both have in the region of 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Eaton Bray. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

What are your top tips when it comes to finding a Eaton Bray conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Eaton Bray conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Eaton Bray conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?
• How many lease extensions have they completed in Eaton Bray in the last year?

What makes a Eaton Bray lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Eaton Bray. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Alliance & Leicester 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 does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I purchased a 2 bed flat in Eaton Bray, conveyancing formalities finalised in 2003. How much will my lease extension cost? Comparable properties in Eaton Bray with a long lease are worth £204,000. The ground rent is £65 levied per year. The lease expires on 21st October 2103

With only 77 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.