Planning to complete next month on a basement flat in North End. Conveyancing solicitors assured me that they are sending me a report 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:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The total extent of the premises. This will be the flat itself but may include a loft or basement if applicable.
• Setting out your rights in respect of common areas in the building.By way of example, does the lease contain a right of way over a path or staircase?
• Whether your lease has a provision for a sinking fund?
• Changes to the flat (alterations and additions)
• 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

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in North End. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks 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 used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in North End so you should seriously consider shopping around for a North End conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.

I work for a long established estate agent office in North End where we see a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local North End conveyancing solicitors. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?

As long as 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 sale.

An alternative approach is 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 buyer.

Can you provide any top tips for leasehold conveyancing in North End with the purpose of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in North End can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
• The majority landlords or managing agents in North End levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in North End.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? North End leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you fail to have the paperwork to hand do not communicate with the landlord without checking with your lawyer in the first instance.
• Some North End leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the freehold, you should make sure that you have the original share document. Organising a re-issued share certificate can be a lengthy process and frustrates many a North End conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

We expect to complete the disposal of our £ 250000 apartment in North End next Wednesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in North End?

North End conveyancing on leasehold flats normally requires the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded if you want to sell the property.

I am the leaseholder of a first flat in North End. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.

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 related to 13 flats. The the number of years remaining on the existing lease(s) was 76 years.

North End Leasehold Conveyancing - A selection of Questions you should consider before buying

Best to be warned whether changing the roof or some other major work is coming up to be shared amongst the tenants and will dramatically increase the the maintenance costs or require a one off payment.