I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Mickleover. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Mickleover ?

Most houses in Mickleover are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Mickleover so you should seriously consider shopping around for a Mickleover conveyancing practitioner and be sure that they have experience in 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 for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service 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.

I've recently bought a leasehold house in Mickleover. Do I have any liability for 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. Strange as it may seem, 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).

Do you have any top tips for leasehold conveyancing in Mickleover from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Mickleover can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Mickleover state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer first.
• A minority of Mickleover leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a new share certificate is often a time consuming process and slows down many a Mickleover conveyancing transaction. If a duplicate share is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

We expect to complete the disposal of our £ 175000 apartment in Mickleover in six days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Mickleover?

Mickleover conveyancing on leasehold maisonettes usually involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

In relation to leasehold conveyancing in Mickleover what are the most frequent lease defects?

Leasehold conveyancing in Mickleover is not unique. Most leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• 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 problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions 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 purchaser to withdraw.

I acquired a ground floor flat in Mickleover, conveyancing was carried out in 2001. How much will my lease extension cost? Corresponding flats in Mickleover with a long lease are worth £229,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2093

With only 67 years remaining on your lease we estimate the price of your lease extension to range between £14,300 and £16,400 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.