You should [be sent a copy of the lease|receive a copy of the lease]

Planning to exchange soon on a garden flat in Frampton on Severn. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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.
• What the implications are if you breach a clause of your lease?

For a comprehensive list of information to be contained in your report on your leasehold property in Frampton on Severn please ask your conveyancer in advance of your conveyancing in Frampton on Severn

Last month I purchased a leasehold flat in Frampton on Severn. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. It is an essential part 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 Frampton on Severn conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Frampton on Severn conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Frampton on Severn conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Frampton on Severn who can give a testimonial?

Can you provide any advice for leasehold conveyancing in Frampton on Severn from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Frampton on Severn can be avoided where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
• Some Frampton on Severn leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 buyers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
• If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a duplicate share certificate is often a lengthy formality and delays many a Frampton on Severn home move. If a reissued share certificate is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

What makes a Frampton on Severn lease problematic?

Leasehold conveyancing in Frampton on Severn is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• 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

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I bought a 1 bedroom flat in Frampton on Severn, conveyancing formalities finalised 2005. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Frampton on Severn with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2094

With only 68 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. 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 without first seeking the advice of a professional.