I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Emerson Park. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Emerson Park are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Emerson Park so you should seriously consider looking for a Emerson Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.

I am tempted by the attractive purchase price for a couple of apartments in Emerson Park which have about 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Emerson Park. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

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

When appointing a property lawyer for your lease extension (regardless if they are a Emerson Park conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Emerson Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• What are the costs for lease extension work?

If all goes to plan we aim to complete our sale of a £ 400000 garden flat in Emerson Park next Wednesday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Emerson Park?

Emerson Park conveyancing on leasehold apartments normally requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.

Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Emerson Park. Can we issue an application to the Residential Property Tribunal Service?

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

An example of a Lease Extension case for a Emerson Park residence 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 was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.

What makes a Emerson Park lease unmortgageable?

Leasehold conveyancing in Emerson Park is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Skipton Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

Emerson Park Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

How much is the service charge and ground rent on the property?