Due to sign contracts shortly on a leasehold property in Moorgate. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Setting out your rights in relation to the communal areas in the block.By way of example, does the lease include a right of way over an accessway or hallways?
• Will you be prohibited or prevented from having pets in the property?
• You need to be told what counts as a Nuisance in the lease
• 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?
• 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

I have just started marketing my 2 bed flat in Moorgate.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 unless 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Moorgate. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Moorgate who acted for me is not around.What should I do?

First contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Moorgate conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a long established estate agent office in Moorgate where we have witnessed a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Moorgate conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is 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 buyer.

What are your top tips when it comes to appointing a Moorgate conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Moorgate conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Moorgate conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

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

I have had difficulty in negotiating a lease extension in Moorgate. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.

An example of a Lease Extension case for a Moorgate residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The unexpired term was 72.39 years.

I inherited a basement flat in Moorgate, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Moorgate with a long lease are worth £176,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2086

With just 60 years left to run we estimate the premium for your lease extension to span between £19,000 and £22,000 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of 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 taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.