I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Park Royal. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Park Royal ?

The majority of houses in Park Royal 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. We note that you are purchasing in Park Royal in which case you should be shopping around for a Park Royal conveyancing solicitor and be sure that they are used to dealing with 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 freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am a negotiator for a long established estate agent office in Park Royal where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Park Royal conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 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 before, or at the same time as 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 appointing a Park Royal conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Park Royal conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Park Royal 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 helpful:

• If the firm is not ALEP accredited then why not?
• What are the costs for lease extension conveyancing?

If all goes to plan we aim to complete our sale of a £ 475000 garden flat in Park Royal next 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 exorbitant fees for a flat conveyance in Park Royal?

Park Royal conveyancing on leasehold flats often necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.

After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Can we issue an application to the Residential Property Tribunal Service?

Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.

An example of a Lease Extension decision for a Park Royal residence is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case affected 1 flat. The the unexpired term as at the valuation date was 28.42 years.

When it comes to leasehold conveyancing in Park Royal what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Park Royal. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and TSB all have very detailed requirements 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.

Park Royal Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

Make sure you investigate if there is anything that is prohibited in the lease. For instance it is fairly common in Park Royal leases that pets are not permitted in in a block in Park Royal. If you like the flatin Park Royal but your cat can’t live with you then you will be faced difficult decision. It would be sensible to discover as much as you can about the managing agents as they will either make your living at the property much easier or much more difficult. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to day to day issues like the cleanliness of the common parts. Ask other tenants what they think of them. In conclusion, be sure you understand the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money.