I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Temple. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Temple are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Temple in which case you should be looking for a Temple conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

What are your top tips when it comes to appointing a Temple conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Temple conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Temple conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they completed in Temple in the last twenty four months?
• Can they put you in touch with client in Temple who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Temple with the aim of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Temple can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Temple leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. If you fail to have the paperwork in place do not contact the landlord without contacting your solicitor first.
• Some Temple leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If there is a history of any disputes with your landlord 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 reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle 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 details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Temple home move. If a duplicate share is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

Completion in due on the sale of our £ 150000 maisonette in Temple in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Temple?

Temple conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.

After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Temple. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.

An example of a Lease Extension matter before the tribunal for a Temple premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.

What makes a Temple lease problematic?

There is nothing unique about leasehold conveyancing in Temple. All leases is drafted differently and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

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. Accord Mortgages Ltd, Barnsley Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I invested in buying a ground floor flat in Temple, conveyancing having been completed in 2008. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Temple with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2097

With 71 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.