I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Old Coulsdon. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Old Coulsdon are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Old Coulsdon in which case you should be looking for a Old Coulsdon conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Old Coulsdon. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Old Coulsdon who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Old Coulsdon conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Old Coulsdon. Do I have any liability for service charges for periods before my ownership?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 work for a reputable estate agency in Old Coulsdon where we have experienced a few leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Old Coulsdon conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate 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 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 needs to be completed before, or simultaneously with completion of the sale.

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 purchaser.

Can you offer any advice when it comes to choosing a Old Coulsdon conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Old Coulsdon conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Old Coulsdon conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Old Coulsdon who can give a testimonial?

I own a basement flat in Old Coulsdon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

Most certainly. We can put you in touch with a Old Coulsdon conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Old Coulsdon residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The the unexpired residue of the current lease was 75 years.

I purchased a ground floor flat in Old Coulsdon, conveyancing formalities finalised in 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Old Coulsdon with an extended lease are worth £225,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2086

With only 60 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be 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.