Estate agents have just been given the go-ahead to market my ground floor flat in Keighley.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?

The sensible thing to do is 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Keighley. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Keighley ?

Most houses in Keighley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Keighley in which case you should be looking for a Keighley conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should report to you on the legal implications.

I am tempted by the attractive purchase price for a couple of maisonettes in Keighley which have in the region of fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Keighley is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 a residence 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 Keighley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Can you offer any advice when it comes to choosing a Keighley conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Keighley conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Keighley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• What volume of lease extensions has the firm conducted in Keighley in the last twenty four months?

If all goes to plan we aim to complete our sale of a £300000 garden flat in Keighley on Wednesday in a week. The management company has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Keighley?

Keighley conveyancing on leasehold flats normally requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I bought a leasehold flat in Keighley, conveyancing formalities finalised 2012. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Keighley with a long lease are worth £215,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2105

With only 80 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. 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. Neither should you take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in Keighley