Expecting to sign contracts shortly on a garden flat in Mildmay. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Mildmay should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

My wife and I purchased a leasehold house in Mildmay. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Mildmay who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Mildmay conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in Mildmay which have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Mildmay is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Mildmay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

If all goes to plan we aim to complete our sale of a £ 450000 apartment in Mildmay next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Mildmay?

Mildmay conveyancing on leasehold apartments usually necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to sell the property.

In relation to leasehold conveyancing in Mildmay what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Mildmay. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Aldermore 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, obliging the buyer to pull out.

I purchased a garden flat in Mildmay, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Mildmay with over 90 years remaining are worth £242,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2083

With just 57 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 as well as professional fees.

The figure 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. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.