I am hoping to exchange soon on a ground floor flat in Ratcliff. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Ratcliff. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Ratcliff are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Ratcliff so you should seriously consider shopping around for a Ratcliff conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

What are your top tips when it comes to choosing a Ratcliff conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Ratcliff conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Ratcliff conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions have they conducted in Ratcliff in the last year?

If all goes to plan we aim to complete the sale of our £450000 apartment in Ratcliff on Thursday in a week. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Ratcliff?

Ratcliff conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be content to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I have had difficulty in negotiating a lease extension in Ratcliff. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price.

An example of a Freehold Enfranchisement case 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 was in relation to 3 flats. The the unexpired term as at the valuation date was 101.61 years.

Are there common defects that you see in leases for Ratcliff properties?

Leasehold conveyancing in Ratcliff is not unique. Most leases are unique and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.