Looking forward to exchange soon on a ground floor flat in Woodford Green. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• The physical extent of the demise. This will be the property itself but could also incorporate a loft or cellar if appropriate.
• Defining your rights in relation to the communal areas in the block.For example, does the lease permit a right of way over a path or hallways?
• Does the lease require carpeting throughout thus preventing wood flooring?
• Are you allowed to have a pet in the flat?
• You need to be told what constitutes a Nuisance in the lease
• What you can do if a neighbour breach a clause of their lease?

Last month I purchased a leasehold flat in Woodford Green. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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).

I work for a long established estate agent office in Woodford Green where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Woodford Green conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 purchaser.

What are your top tips when it comes to finding a Woodford Green conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Woodford Green conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Woodford Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• Can they put you in touch with client in Woodford Green who can give a testimonial?
• What are the costs for lease extension conveyancing?

I inherited a ground flat in Woodford Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

You certainly can. We can put you in touch with a Woodford Green conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Woodford Green premises is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired term was 69.26 years.

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

Leasehold conveyancing in Woodford Green is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely 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, The Mortgage Works, and Clydesdale 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 grant the mortgage, forcing the purchaser to withdraw.

I invested in buying a 1 bedroom flat in Woodford Green, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Woodford Green with a long lease are worth £265,000. The ground rent is £50 levied per year. The lease expires on 21st October 2102

With 76 years left to run we estimate the premium for your lease extension to be between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.

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 comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.