Planning to exchange soon on a leasehold property in Waddon. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• 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
• Repair and maintenance of the flat
• 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.
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?

I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Waddon. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Waddon ?

The majority of houses in Waddon are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Waddon so you should seriously consider looking for a Waddon conveyancing solicitor and check that they have experience in 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 for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Waddon. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Waddon who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Waddon conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a reputable estate agent office in Waddon where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Waddon conveyancing solicitors. Could you clarify whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 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.

An alternative approach is 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.

Can you provide any advice for leasehold conveyancing in Waddon from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Waddon can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Waddon leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the consents to hand do not communicate with the landlord without checking with your conveyancer first.
• If there is a history of any disputes 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 a current dispute. You may need to swallow your pride and 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 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 clearly preferable to present the dispute as historic rather than unsettled.
• If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a lengthy process and delays many a Waddon home move. If a reissued share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I have given up seeking a lease extension in Waddon. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most definitely. We can put you in touch with a Waddon conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Waddon flat is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The the unexpired term as at the valuation date was 98 years.

I invested in buying a basement flat in Waddon, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Waddon with an extended lease are worth £187,000. The ground rent is £60 yearly. The lease runs out on 21st October 2078

With 52 years remaining on your lease the likely cost is going to span between £35,200 and £40,600 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.