I’m about to sell my garden apartment in Lisson Grove.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – Do I pay up?

It best that you 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Lisson Grove. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Lisson Grove are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Lisson Grove so you should seriously consider looking for a Lisson Grove conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

Last month I purchased a leasehold property in Lisson Grove. Am I liable to pay service charges for periods before completion of my purchase?

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).

Can you provide any top tips for leasehold conveyancing in Lisson Grove from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Lisson Grove can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Lisson Grove leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor before hand.
• If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
• If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Organising a replacement share certificate is often a time consuming process and frustrates many a Lisson Grove conveyancing transaction. If a duplicate share is needed, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Lisson Grove. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price.

An example of a Lease Extension decision for a Lisson Grove premises is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 24.02 years.

Are there frequently found defects that you witness in leases for Lisson Grove properties?

There is nothing unique about leasehold conveyancing in Lisson Grove. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I own a 1 bedroom flat in Lisson Grove, conveyancing was carried out in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Lisson Grove with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2087

With 61 years remaining on your lease we estimate the price of your lease extension to be between £20,000 and £23,000 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.