Looking forward to exchange soon on a basement flat in Newbury Park. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• Are you allowed to have a pet in the flat?
• Whether the lease restricts you from subletting the flat, or working from home
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• Responsibility for repairing the window frames

My wife and I purchased a leasehold flat in Newbury Park. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Newbury Park who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Newbury Park conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two flats in Newbury Park which have in the region of 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to choosing a Newbury Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Newbury Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Newbury Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?
• Can they put you in touch with client in Newbury Park who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Newbury Park with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Newbury Park can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Newbury Park levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Newbury Park.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Newbury Park leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the consents in place you should not contact the landlord without checking with your lawyer before hand.
• If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and frustrates many a Newbury Park conveyancing transaction. Where a duplicate share certificate is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I have had difficulty in trying to purchase the freehold in Newbury Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most definitely. We can put you in touch with a Newbury Park conveyancing firm who can help.

An example of a Lease Extension decision for a Newbury Park flat is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case affected 1 flat. The remaining number of years on the lease was 60.29 years.

Leasehold Conveyancing in Newbury Park - Examples of Queries before Purchasing

It would be a good idea to discover if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Newbury Park. If you like the propertyin Newbury Park but your dog can’t make the move with you then you have a very hard compromise. What is the name of the managing agents? Does the lease have onerous restrictions?