I am hoping to complete next month on a garden flat in Aldborough Hatch. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

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

• You should receive a copy of the lease

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

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

Setting out your legal entitlements in respect of the communal areas in the block.E.G., does the lease permit a right of way over a path or hallways?

Does the lease prevent you from subletting the flat, or working from home

Whether your lease has a provision for a sinking fund?

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 For details of the information to be included in your report on your leasehold property in Aldborough Hatch please ask your solicitor in advance of your conveyancing in Aldborough Hatch

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Aldborough Hatch. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Aldborough Hatch ?

Most houses in Aldborough Hatch 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 buying in Aldborough Hatch so you should seriously consider shopping around for a Aldborough Hatch conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am attracted to a two apartments in Aldborough Hatch both have in the region of 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Aldborough Hatch is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with less than eighty 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 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 premises 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 Aldborough Hatch 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I am a negotiator for a reputable estate agency in Aldborough Hatch where we see a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Aldborough Hatch conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner 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. This means 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 needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

All being well we will complete the sale of our £425000 apartment in Aldborough Hatch next week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Aldborough Hatch?

For most leasehold sales in Aldborough Hatch conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Aldborough Hatch
• Supplying insurance information
• 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 Aldborough Hatch leasehold property is £350. For Aldborough Hatch 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 the information.

We have reached the end of our tether in negotiating a lease extension in Aldborough Hatch. Can this matter be resolved via the Leasehold Valuation Tribunal?

Absolutely. We are happy to put you in touch with a Aldborough Hatch conveyancing firm who can help.

An example of a Lease Extension decision for a Aldborough Hatch residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 61.36 years.