Looking forward to complete next month on a leasehold property in Aldwych. Conveyancing lawyers 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 Aldwych should include some of the following:

• Do you need to have carpet in the flat or are you allowed wood flooring?

My wife and I purchased a leasehold house in Aldwych. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Aldwych who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Aldwych conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two apartments in Aldwych which have in the region of 50 years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Aldwych is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. 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 Aldwych 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 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.

I've recently bought a leasehold house in Aldwych. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Completion in due on the sale of our £475000 flat in Aldwych next Monday . The management company has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Aldwych?

Aldwych conveyancing on leasehold flats often necessitates the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Aldwych. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We can put you in touch with a Aldwych conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Aldwych flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired term was 73.26 years.