I have just appointed agents to market my ground floor flat in Gerrards Cross.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2005, I bought a leasehold house in Gerrards Cross. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Gerrards Cross who acted for me is not around.Any advice?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Gerrards Cross conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Gerrards Cross both have about fifty years remaining on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to choosing a Gerrards Cross conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Gerrards Cross conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Gerrards Cross 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 of use:

• How many lease extensions have they conducted in Gerrards Cross in the last twenty four months?
• What are the charges for lease extension work?

Can you provide any advice for leasehold conveyancing in Gerrards Cross with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Gerrards Cross can be reduced if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
• Many freeholders or managing agents in Gerrards Cross levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Gerrards Cross.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Gerrards Cross leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the approvals to hand do not contact the landlord without contacting your conveyancer before hand.
• Some Gerrards Cross 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 financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 buyers, but it is better to reveal the dispute as historic as opposed to unsettled.

I have had difficulty in trying to reach an agreement for a lease extension in Gerrards Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.

An example of a Lease Extension case for a Gerrards Cross residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The the unexpired residue of the current lease was 71 years.

Gerrards Cross Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

What restrictions are there in the Gerrards Cross Lease? What is the annual maintenance fee and ground rent? You should be aware that where the lease has no more than 80 years it will affect the value of the apartment. Check with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you would need to own the premises for 24 months before you are entitled to exercise a lease extension.