I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Gamlingay. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Gamlingay ?

The majority of houses in Gamlingay 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 purchasing in Gamlingay so you should seriously consider shopping around for a Gamlingay conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

Back In 2009, I bought a leasehold flat in Gamlingay. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Gamlingay who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Gamlingay conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Gamlingay which have approximately 50 years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Gamlingay is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with less than 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 premises 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 Gamlingay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

I've recently bought a leasehold flat in Gamlingay. Do I have any liability for service charges for periods before my ownership?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

What advice can you give us when it comes to choosing a Gamlingay conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Gamlingay conveyancing practice) it is imperative 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 Gamlingay 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:

• Can they put you in touch with client in Gamlingay who can give a testimonial?

I acquired a ground floor flat in Gamlingay, conveyancing having been completed in 2010. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Gamlingay with a long lease are worth £201,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2087

With 62 years left to run the likely cost is going to be between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

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Lease Extensions in Gamlingay