Expecting to exchange soon on a basement flat in St James's. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in St James's should include some of the following:

• The length of the lease term 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
• Are you allowed to have a pet in the flat?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What the implications are if you breach a clause of your lease?

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in St James's. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in St James's are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in St James's in which case you should be shopping around for a St James's conveyancing practitioner and check 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 to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

I work for a busy estate agent office in St James's where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given conflicting advice from local St James's conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate 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 commence 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

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 finding a St James's conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a St James's conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non St James's conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?
• What volume of lease extensions have they carried out in St James's in the last twenty four months?

Can you provide any top tips for leasehold conveyancing in St James's with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in St James's can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
• The majority freeholders or Management Companies in St James's levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in St James's.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? St James's leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such alterations. Where you fail to have the consents to hand do not contact the landlord without checking with your solicitor first.
• If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a replacement share certificate can be a lengthy process and frustrates many a St James's conveyancing transaction. Where a duplicate share is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.

I own a second floor flat in St James's. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Freehold Enfranchisement matter before the tribunal for a St James's property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The remaining number of years on the lease was 73.26 years.

I invested in buying a ground floor flat in St James's, conveyancing was carried out 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in St James's with an extended lease are worth £200,000. The ground rent is £65 yearly. The lease expires on 21st October 2102

You have 76 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt 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 placing reliance on this information without first seeking the advice of a professional.