Due to sign contracts shortly on a leasehold property in Ince in Makerfield. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The physical extent of the demise. This will be the property itself but could also incorporate a roof space or basement if applicable.

You must be told what counts as a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Whether your lease has a provision for a sinking fund?

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Ince in Makerfield please enquire of your solicitor in advance of your conveyancing in Ince in Makerfield

Back In 2007, I bought a leasehold flat in Ince in Makerfield. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Ince in Makerfield who previously acted has long since retired.What should I do?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Ince in Makerfield conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Ince in Makerfield both have in the region of forty five years remaining on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a busy estate agency in Ince in Makerfield where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received conflicting advice from local Ince in Makerfield conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 apartment in Ince in Makerfield on Tuesday in a week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Ince in Makerfield?

Ince in Makerfield conveyancing on leasehold apartments nine out of ten times necessitates administration charges raised by managing agents :

• Completing pre-exchange questions
• Where consent is required before sale in Ince in Makerfield
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Ince in Makerfield leasehold property is £350. For Ince in Makerfield conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I bought a leasehold flat in Ince in Makerfield, conveyancing formalities finalised 2009. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Ince in Makerfield with an extended lease are worth £246,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2090

You have 65 years remaining on your lease we estimate the price of your lease extension to range between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

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Lease Extensions in Ince in Makerfield