Expecting to complete next month on a garden flat in Littleport. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Littleport 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
• You must be told what counts as a Nuisance in the lease
• 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
• Changes to the flat (alterations and additions)
• 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.
• 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 have just started marketing my garden flat in Littleport.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you discharge the service charge 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 managing agents will not acknowledge the buyer unless 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've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Littleport. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Littleport are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Littleport in which case you should be looking for a Littleport conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

What advice can you give us when it comes to finding a Littleport conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Littleport conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Littleport conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the firm with lease extension legislation?
• If the firm is not ALEP accredited then why not?

Can you provide any advice for leasehold conveyancing in Littleport with the purpose of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Littleport can be reduced if you appoint lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
• A minority of Littleport leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unsettled.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a duplicate share certificate can be a lengthy formality and frustrates many a Littleport conveyancing deal. If a new share is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I invested in buying a leasehold flat in Littleport, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Littleport with an extended lease are worth £172,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2082

With 56 years left to run we estimate the price of your lease extension to span between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.