Planning to sign contracts shortly on a basement flat in Isleworth. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

• The physical extent of the demise. This will be the flat itself but could also include a loft or cellar if applicable.
• Defining your rights in respect of the communal areas in the block.For instance, does the lease contain a right of way over an accessway or hallways?
• Does the lease require carpeting throughout thus preventing wood flooring?
• Whether the lease restricts you from subletting the property, or working from home
• 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

Estate agents have just been given the go-ahead to market my 2 bed apartment in Isleworth.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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. This will smooth the conveyancing process.

I am looking at a couple of flats in Isleworth both have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not 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 seek professional help from a solicitor and surveyor with experience in this arena

I am a negotiator for a long established estate agent office in Isleworth where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Isleworth conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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.

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

When appointing a property lawyer for lease extension works (regardless if they are a Isleworth conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Isleworth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the firm with lease extension legislation?
• If the firm is not ALEP accredited then what is the reason?

We have reached the end of our tether in trying to reach an agreement for a lease extension in Isleworth. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.

An example of a Lease Extension decision for a Isleworth residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired lease term was 60.45 years.

I own a leasehold flat in Isleworth, conveyancing formalities finalised in 2000. How much will my lease extension cost? Equivalent flats in Isleworth with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2106

You have 80 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.