Looking forward to sign contracts shortly on a basement flat in North End. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Will you be prohibited or prevented from having pets in the property?
• Does the lease prevent you from renting out the flat, or working from home
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What options are open to you if a neighbour breach a clause of their lease?

Estate agents have just been given the go-ahead to market my ground floor apartment in North End.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay the invoice 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 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've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in North End. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in North End ?

The majority of houses in North End are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in North End so you should seriously consider shopping around for a North End conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority 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 such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.

I work for a busy estate agency in North End where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local North End conveyancing solicitors. Please can you confirm whether the vendor of a flat can initiate 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 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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 buyer.

We expect to complete our sale of a £ 450000 apartment in North End on Tuesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in North End?

North End conveyancing on leasehold apartments more often than not requires the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a North End conveyancing firm to help?

Most certainly. We can put you in touch with a North End conveyancing firm who can help.

An example of a Lease Extension case for a North End property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The the unexpired term as at the valuation date was 76 years.

North End Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

You should be aware that where the lease has less than eighty years it will affect the marketability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would be be obliged to have owned the residence for 24 months before you are entitled to extend the lease.