I am on look out for some leasehold conveyancing in Montpelier. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Montpelier - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Due to exchange soon on a ground floor flat in Montpelier. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Are pets allowed in the flat?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• What options are open to you if a neighbour is in violation of a provision in their lease?

I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Montpelier. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Montpelier are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Montpelier so you should seriously consider shopping around for a Montpelier conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.

I work for a long established estate agency in Montpelier where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Montpelier conveyancing firms. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that 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 need not have 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 at the same time as 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 buyer.

What are your top tips when it comes to choosing a Montpelier conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Montpelier conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Montpelier conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Montpelier who can give a testimonial?

Montpelier Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

Where a Montpelier lease has less than eighty years it will impact the value of the flat. Check with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will be required to have owned the premises for two years in order to be eligible to extend the lease. Is anyone aware of any major works on the horizon that will increase the service costs?