Looking forward to sign contracts shortly on a garden flat in Upton. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

• Setting out your rights in respect of the communal areas in the building.By way of example, does the lease grant a right of way over an accessway or staircase?
• Are pets allowed in the flat?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What options are open to you if a neighbour breach a clause of their lease?

I’m about to sell my ground floor flat in Upton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

It best that you 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. This will smooth the conveyancing process.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Upton. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Upton ?

Most houses in Upton 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. it is apparent that you are buying in Upton in which case you should be looking for a Upton conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Upton which have in the region of forty five years remaining on the leases. Will this present a problem?

There are plenty of short leases in Upton. The lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Upton from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Upton can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• Many freeholders or managing agents in Upton levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Upton.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Upton leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you fail to have the approvals to hand you should not communicate with the landlord without contacting your conveyancer before hand.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers 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 completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
• You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I am the registered owner of a ground-floor 1950’s flat in Upton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.

An example of a Lease Extension decision for a Upton flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the number of years remaining on the existing lease(s) was 76 years.

I acquired a garden flat in Upton, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Upton with an extended lease are worth £269,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2083

With just 57 years left to run the likely cost is going to be between £24,700 and £28,600 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.