I've found a house that appears to tick a lot of boxes, at a great figure 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 particular concerns buying a house with a leasehold title in Rainham. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Rainham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Rainham so you should seriously consider shopping around for a Rainham conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a couple of maisonettes in Rainham which have approximately fifty years left on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a long established estate agency in Rainham where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Rainham conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 are your top tips when it comes to appointing a Rainham conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Rainham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Rainham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• If they are not ALEP accredited then why not?
• What volume of lease extensions have they conducted in Rainham in the last 12 months?

Can you provide any top tips for leasehold conveyancing in Rainham with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Rainham can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
• Many landlords or managing agents in Rainham levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Rainham.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
• If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming formality and frustrates many a Rainham conveyancing transaction. Where a new share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I am the proprietor of a first floor flat in Rainham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

Most certainly. We can put you in touch with a Rainham conveyancing firm who can help.

An example of a Lease Extension case for a Rainham residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The remaining number of years on the lease was 57.5 years.

I bought a ground floor flat in Rainham, conveyancing having been completed 2004. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Rainham with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2094

You have 68 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.