Planning to exchange soon on a ground floor flat in Ladywood. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

• Do you need to have carpet in the flat or are you allowed wood flooring?
• Whether the lease restricts you from letting out the property, or working from home
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I’m about to sell my 2 bed apartment in Ladywood.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?

It best that you clear 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.

I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Ladywood. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Ladywood ?

The majority of houses in Ladywood are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Ladywood so you should seriously consider looking for a Ladywood conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

Can you provide any advice for leasehold conveyancing in Ladywood from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Ladywood can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
• Many landlords or Management Companies in Ladywood levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Ladywood.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Ladywood leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Where you dont have the paperwork in place you should not contact the landlord without contacting your lawyer in the first instance.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and delays many a Ladywood conveyancing deal. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible.

When it comes to leasehold conveyancing in Ladywood what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Ladywood. Most leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and TSB all have express requirements 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 pull out.

I own a ground floor flat in Ladywood, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Ladywood with a long lease are worth £214,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ceases on 21st October 2103

With just 77 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional 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 before seeking the advice of a professional.