I've found a 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 am assuming that there are particular concerns buying a house with a leasehold title in Old Oak Common. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Old Oak Common ?

Most houses in Old Oak Common are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Old Oak Common so you should seriously consider looking for a Old Oak Common 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. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.

Last month I purchased a leasehold property in Old Oak Common. Am I liable to pay service charges relating to a period prior to 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. Strange as it may seem, 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).

What advice can you give us when it comes to appointing a Old Oak Common conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Old Oak Common conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Old Oak Common conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If the firm is not ALEP accredited then why not?

Can they put you in touch with client in Old Oak Common who can give a testimonial?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 garden flat in Old Oak Common in 8 days. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Old Oak Common?

Old Oak Common conveyancing on leasehold apartments normally necessitates fees being raised by freeholders :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Old Oak Common
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Old Oak Common leasehold premises is £350. For Old Oak Common conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

We have reached the end of our tether in trying to reach an agreement for a lease extension in Old Oak Common. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We can put you in touch with a Old Oak Common conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Old Oak Common residence is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the
first floor flat This case was in relation to 2 flats. The unexpired term was 68.47 years.

When it comes to leasehold conveyancing in Old Oak Common what are the most frequent lease defects?

Leasehold conveyancing in Old Oak Common is not unique. All leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Skipton Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.