Having had my offer accepted I require leasehold conveyancing in Pratt's Bottom. Before I get started I require certainty as to the remaining lease term.

If the lease is registered - and most are in Pratt's Bottom - then the leasehold title will always include the short particulars 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 seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Pratt's Bottom. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Pratt's Bottom are freehold and not 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 Pratt's Bottom so you should seriously consider shopping around for a Pratt's Bottom conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a reputable estate agency in Pratt's Bottom where we have experienced a number of flat sales jeopardised due to short leases. I have received contradictory information from local Pratt's Bottom conveyancing firms. Could you confirm whether the seller of a flat can commence 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 has to be done before, or at the same time as 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.

Do you have any advice for leasehold conveyancing in Pratt's Bottom from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Pratt's Bottom can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
• The majority landlords or managing agents in Pratt's Bottom levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Pratt's Bottom.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Pratt's Bottom leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you dont have the approvals in place do not contact the landlord without checking with your conveyancer first.
• A minority of Pratt's Bottom leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unsettled.

I have had difficulty in seeking a lease extension in Pratt's Bottom. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to calculate the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Pratt's Bottom premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The the unexpired residue of the current lease was 50.57 years.

What makes a Pratt's Bottom lease defective?

Leasehold conveyancing in Pratt's Bottom is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• 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 could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Bank of Ireland 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 is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I am the registered owner of a split level flat in Pratt's Bottom, conveyancing having been completed 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Pratt's Bottom with a long lease are worth £175,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2087

With only 61 years unexpired we estimate the premium for your lease extension to span between £18,100 and £20,800 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.