Due to complete next month on a ground floor flat in Fenny Stratford. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

• Do you need to have carpet in the flat or are you allowed wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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
• Repair and maintenance of the flat
• 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.
• What options are open to you if a neighbour is in violation of a provision in their lease?

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Fenny Stratford. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Fenny Stratford ?

The majority of houses in Fenny Stratford 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. It is clear that you are buying in Fenny Stratford in which case you should be shopping around for a Fenny Stratford conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

Can you provide any advice for leasehold conveyancing in Fenny Stratford from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Fenny Stratford can be reduced where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
• Some Fenny Stratford leases require Licence to Assign from the landlord. 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. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 lawyers.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to 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 over rather than unsettled.
• If you hold a share in a the freehold, you should ensure that you have the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and frustrates many a Fenny Stratford conveyancing transaction. Where a new share is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 150000 garden flat in Fenny Stratford in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Fenny Stratford?

Fenny Stratford conveyancing on leasehold maisonettes often requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

Are there common deficiencies that you come across in leases for Fenny Stratford properties?

Leasehold conveyancing in Fenny Stratford is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions 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 grant the mortgage, forcing the buyer to withdraw.

I am the registered owner of a split level flat in Fenny Stratford, conveyancing was carried out 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Fenny Stratford with over 90 years remaining are worth £177,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2105

With just 79 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.