Having had my offer accepted I require leasehold conveyancing in Ratcliff. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Ratcliff - 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 am hoping to complete next month on a leasehold property in Ratcliff. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Ratcliff should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• The total extent of the premises. This will be the property itself but could also incorporate a loft or basement if applicable.
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Will you be prohibited or prevented from having pets in the property?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• What you can do if a neighbour is in violation of a provision in their lease?

Estate agents have just been given the go-ahead to market my ground floor apartment in Ratcliff.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold house in Ratcliff. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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. Strange as it may seem, 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 work for a reputable estate agency in Ratcliff where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Ratcliff conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities 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. This means that the buyer 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 needs to be completed prior to, or at the same time as completion of the sale.

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.

I have had difficulty in trying to reach an agreement for a lease extension in Ratcliff. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.

An example of a Freehold Enfranchisement matter before the tribunal for a Ratcliff property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The the unexpired residue of the current lease was 101.61 years.

I invested in buying a 2 bed flat in Ratcliff, conveyancing was carried out 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Ratcliff with over 90 years remaining are worth £201,000. The ground rent is £65 levied per year. The lease expires on 21st October 2096

With 70 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.