Planning to complete next month on a garden flat in Gunnislake. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Gunnislake 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

I’m about to sell my ground floor apartment in Gunnislake.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the invoice 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 management companies 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Gunnislake. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Gunnislake who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Gunnislake 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 freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a reputable estate agency in Gunnislake where we have witnessed a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Gunnislake conveyancing solicitors. Can you shed some light as to 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 been the owner 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. This means that the buyer need not have 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 disposal of the property.

An alternative approach is 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 purchaser.

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

If you are instructing a conveyancer for lease extension works (regardless if they are a Gunnislake conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Gunnislake 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 useful:

• How experienced is the firm with lease extension legislation?

I acquired a ground floor flat in Gunnislake, conveyancing was carried out 1998. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Gunnislake with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2103

With just 78 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Gunnislake