Looking forward to sign contracts shortly on a basement flat in Merton Park. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Merton Park should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• The physical extent of the premises. This will be the property itself but might include a roof space or basement if applicable.
• Does the lease require carpeting throughout thus preventing wood flooring?
• Whether your lease has a provision for a reserve fund?
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• Responsibility for repairing the window frames
• What you can do if a neighbour is in violation of a provision in their lease?

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Merton Park. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Merton Park ?

Most houses in Merton Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Merton Park in which case you should be looking for a Merton Park conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am employed by a reputable estate agent office in Merton Park where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Merton Park conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner 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. The benefit of this is that the buyer can avoid having 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 disposal of the property.

Alternatively, it may be possible 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.

Can you offer any advice when it comes to finding a Merton Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Merton Park conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Merton Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How many lease extensions have they carried out in Merton Park in the last twenty four months?
• What are the costs for lease extension work?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 200000 apartment in Merton Park next Tuesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Merton Park?

Merton Park conveyancing on leasehold flats usually necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are at liberty charge a reasonable administration fee for answering questions 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 situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.

Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Merton Park. Can we issue an application to the Residential Property Tribunal Service?

Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price.

An example of a Lease Extension decision for a Merton Park property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 62.94 years.

I own a basement flat in Merton Park, conveyancing was carried out 3 years ago. How much will my lease extension cost? Equivalent properties in Merton Park with a long lease are worth £245,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2094

With just 68 years left to run the likely cost is going to span between £8,600 and £9,800 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.