Expecting to exchange soon on a leasehold property in Hyde. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Hyde 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 not letting the lease term falling below eighty years
• The total extent of the demise. This will be the flat itself but might include a roof space or cellar if appropriate.
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• What options are open to you if a neighbour breach a clause of their lease?

Estate agents have just been given the go-ahead to market my 2 bed flat in Hyde.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am employed by a long established estate agency in Hyde where we see a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Hyde conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 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 simultaneously with 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 buyer.

Completion in due on the sale of our £ 375000 flat in Hyde in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Hyde?

Hyde conveyancing on leasehold flats often involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

Are there common problems that you witness in leases for Hyde properties?

There is nothing unique about leasehold conveyancing in Hyde. All leases are unique and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• 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. Santander, Barnsley Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I inherited a studio flat in Hyde, conveyancing having been completed 1998. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Hyde with an extended lease are worth £249,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2082

You have 56 years unexpired we estimate the price of your lease extension to be between £32,300 and £37,400 plus costs.

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 without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.