I am looking at a couple of apartments in Frenchay Common both have in the region of 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold house in Frenchay Common. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. However, 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).

I am employed by a busy estate agency in Frenchay Common where we have witnessed a few flat sales derailed as a result of short leases. I have been given inconsistent advice from local Frenchay Common conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What advice can you give us when it comes to finding a Frenchay Common conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Frenchay Common conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Frenchay Common conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If the firm is not ALEP accredited then why not?
• What volume of lease extensions have they conducted in Frenchay Common in the last 12 months?

We expect to complete the sale of our £ 500000 apartment in Frenchay Common in just under a 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 Frenchay Common?

Frenchay Common conveyancing on leasehold flats more often than not necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are at liberty levy a reasonable charge for answering enquiries 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 transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.

Leasehold Conveyancing in Frenchay Common - A selection of Questions you should consider before buying

The answer will be helpful as a) areas can cause problems in the block as the communal areas may begin to deteriorate if services are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have all the details How much is the ground rent and service charge?