I have just started marketing my garden flat in Melbourn.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you clear the service charge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Melbourn. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Melbourn ?

Most houses in Melbourn are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Melbourn in which case you should be looking for a Melbourn conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

I work for a busy estate agent office in Melbourn where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Melbourn conveyancing firms. Please can you clarify whether the owner 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. 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.

An alternative approach is to extend the lease informally by agreement with the landlord 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 advice can you give us when it comes to choosing a Melbourn conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Melbourn conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Melbourn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?
• Can they put you in touch with client in Melbourn who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Melbourn with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Melbourn can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
• The majority freeholders or managing agents in Melbourn levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Melbourn.
• If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Melbourn state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you fail to have the paperwork in place do not communicate with the landlord without contacting your lawyer first.
• Some Melbourn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Obtaining a new share certificate is often a time consuming formality and frustrates many a Melbourn conveyancing deal. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

I acquired a studio flat in Melbourn, conveyancing formalities finalised in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Melbourn with over 90 years remaining are worth £245,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2093

You have 67 years remaining on your lease we estimate the premium for your lease extension to span between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. 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 considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.