Planning to sign contracts shortly on a ground floor flat in Maidenhead. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

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

• Does the lease prohibit wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Maidenhead. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Maidenhead are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Maidenhead so you should seriously consider looking for a Maidenhead conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder 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’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.

I am looking at a two maisonettes in Maidenhead which have approximately 50 years unexpired on the lease term. Do I need to be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Maidenhead. Do I have any liability for service charges for periods before my ownership?

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. It is an essential part 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 reputable estate agency in Maidenhead where we have experienced a few leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Maidenhead conveyancing firms. Please can you shed some light as to whether the vendor of a flat can start 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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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.

Maidenhead Leasehold Conveyancing - Sample of Questions you should ask before buying

This question is important as a) areas may cause problems for the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will wish to have all the details Many Maidenhead leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced by the landlord. Should you buy the apartment you will have to meet this amount, normally quarterly throughout the year. This could vary from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay yearly, this is usually not a significant sum, say approximately £50-£100 but you should to enquire as occasionally it can be surprisingly expensive.