Looking forward to complete next month on a ground floor flat in Hellesdon. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• Does the lease prohibit wood flooring?

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hellesdon. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Hellesdon are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Hellesdon in which case you should be looking for a Hellesdon conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am attracted to a two apartments in Hellesdon both have about forty five years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Hellesdon is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more positive 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 premises 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 Hellesdon 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 any new 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 Hellesdon. Am I liable to pay service charges relating to a period prior to my ownership?

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. A critical element of leasehold conveyancing for your conveyancer to be sure 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 makes a Hellesdon lease unmortgageable?

There is nothing unique about leasehold conveyancing in Hellesdon. All leases is drafted differently and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Nottingham Building Society 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, obliging the purchaser to pull out.

I invested in buying a 2 bed flat in Hellesdon, conveyancing formalities finalised 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Hellesdon with a long lease are worth £215,000. The ground rent is £45 per annum. The lease expires on 21st October 2097

You have 71 years left to run we estimate the price of your lease extension to be between £12,400 and £14,200 plus 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 supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Hellesdon