I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Wennington. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Wennington are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Wennington so you should seriously consider looking for a Wennington conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. 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 maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I've recently bought a leasehold house in Wennington. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to choosing a Wennington 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 Wennington conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Wennington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the firm with lease extension legislation?
• What volume of lease extensions have they conducted in Wennington in the last 12 months?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 475000 garden flat in Wennington in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Wennington?

Wennington conveyancing on leasehold apartments more often than not necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. 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 am the proprietor of a a ground floor purpose built flat in Wennington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Lease Extension decision for a Wennington 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 remaining number of years on the lease was 76 years.

Are there common problems that you see in leases for Wennington properties?

There is nothing unique about leasehold conveyancing in Wennington. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I acquired a 1st floor flat in Wennington, conveyancing formalities finalised 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Wennington with a long lease are worth £204,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2104

With just 78 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.