I am in need of some leasehold conveyancing in Osidge. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Osidge - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Osidge. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Osidge ?

The majority of houses in Osidge are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Osidge so you should seriously consider looking for a Osidge conveyancing solicitor and be sure that they have experience in advising 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 with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

I've recently bought a leasehold property in Osidge. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. A critical element 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 am a negotiator for a reputable estate agency in Osidge where we see a few flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Osidge conveyancing firms. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease 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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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.

What advice can you give us when it comes to finding a Osidge conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Osidge conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Osidge conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How many lease extensions have they completed in Osidge in the last 12 months?
• What are the legal fees for lease extension conveyancing?

Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Osidge. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the premium.

An example of a Freehold Enfranchisement decision for a Osidge flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 70.31 years.

I acquired a basement flat in Osidge, conveyancing was carried out in 2008. Can you work out an approximate cost of a lease extension? Comparable properties in Osidge with over 90 years remaining are worth £205,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2100

With 74 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.