Expecting to exchange soon on a basement flat in Linslade. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Linslade should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
• Defining your rights in respect of common areas in the building.For instance, does the lease contain a right of way over a path or hallways?
• Are you allowed to have a pet in the flat?
• Does the lease prevent you from subletting the property, or working from home
• 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
• What you can do if a neighbour is in violation of a provision in their lease?

My wife and I purchased a leasehold flat in Linslade. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Linslade who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Linslade conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Linslade both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Linslade is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with under 75 years become less and less marketable. 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 property 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 Linslade 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 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 the agreed 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 provide any top tips for leasehold conveyancing in Linslade with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Linslade can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• The majority landlords or Management Companies in Linslade charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Linslade.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Linslade leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you fail to have the consents in place you should not contact the landlord without contacting your lawyer first.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and delays many a Linslade conveyancing deal. Where a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

What makes a Linslade lease defective?

There is nothing unique about leasehold conveyancing in Linslade. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I inherited a 2 bed flat in Linslade, conveyancing formalities finalised in 1997. How much will my lease extension cost? Equivalent properties in Linslade with a long lease are worth £264,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2100

With just 74 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as legals.

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 without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.