Having had my offer accepted I require leasehold conveyancing in Newington. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Newington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Newington. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Newington ?

Most houses in Newington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Newington in which case you should be shopping around for a Newington conveyancing solicitor 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 to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

I've recently bought a leasehold house in Newington. Am I liable to pay service charges for periods before my ownership?

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. A critical element 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).

I am employed by a long established estate agent office in Newington where we have witnessed a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Newington conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Newington conveyancing firm to act on my behalf?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Newington property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The the unexpired term as at the valuation date was 107 years.

What are the common defects that you see in leases for Newington properties?

There is nothing unique about leasehold conveyancing in Newington. Most leases is drafted differently and drafting errors can result in certain sections are wrong. 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You will 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. Birmingham Midshires, The Royal Bank of Scotland, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I inherited a 1 bedroom flat in Newington, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Newington with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2102

With only 76 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.