Looking forward to exchange soon on a garden flat in Cranham. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

• Setting out your rights in respect of the communal areas in the block.For example, does the lease grant a right of way over a path or staircase?

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Cranham. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Cranham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cranham in which case you should be looking for a Cranham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a couple of maisonettes in Cranham which have approximately forty five years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Cranham. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Cranham. Do I have any liability for service charges for periods before my ownership?

In a situation 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. Strange as it may seem, 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 be sure 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).

I am a negotiator for a busy estate agent office in Cranham where we see a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Cranham conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 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 extend the lease informally by agreement with the landlord 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 purchaser.

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Cranham conveyancing firm to assist?

You certainly can. We can put you in touch with a Cranham conveyancing firm who can help.

An example of a Lease Extension decision for a Cranham property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The the unexpired term as at the valuation date was 57.5 years.