I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Old Oak Common. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Old Oak Common are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Old Oak Common so you should seriously consider shopping around for a Old Oak Common conveyancing solicitor and check that they are used to advising 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 will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am a negotiator for a busy estate agency in Old Oak Common where we have experienced a few flat sales jeopardised due to short leases. I have been given contradictory information from local Old Oak Common conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 at the same time as 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 purchaser.

What are your top tips when it comes to finding a Old Oak Common conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Old Oak Common conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Old Oak Common conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• If they are not ALEP accredited then what is the reason?
• How many lease extensions have they carried out in Old Oak Common in the last 12 months?

Do you have any top tips for leasehold conveyancing in Old Oak Common with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Old Oak Common can be reduced if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Old Oak Common leases often stipulate that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer in advance.
• Some Old Oak Common leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If you hold a share in a the freehold, you should make sure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming process and frustrates many a Old Oak Common conveyancing deal. If a reissued share is necessary, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on the disposal of our £ 150000 apartment in Old Oak Common on Thursday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Old Oak Common?

Old Oak Common conveyancing on leasehold apartments usually involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded if you want to sell the property.

Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Old Oak Common. Can we issue an application to the Residential Property Tribunal Service?

Most certainly. 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 premises 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 affected 2 flats. The the unexpired residue of the current lease was 68.47 years.

I invested in buying a split level flat in Old Oak Common, conveyancing was carried out 2008. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Old Oak Common with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2092

With 66 years remaining on your lease we estimate the price of your lease extension to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.