I am hoping to exchange soon on a leasehold property in Mossley. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Mossley should include some of the following:

• Defining your legal entitlements in respect of common areas in the block.For example, does the lease permit a right of way over a path or staircase?
• Will you be prohibited or prevented from having pets in the property?
• 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
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Mossley. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Mossley ?

The majority of houses in Mossley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Mossley in which case you should be shopping around for a Mossley conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.

What advice can you give us when it comes to finding a Mossley conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Mossley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Mossley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• Can they put you in touch with client in Mossley who can give a testimonial?
• What are the legal fees for lease extension work?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 300000 maisonette in Mossley in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Mossley?

Mossley conveyancing on leasehold maisonettes normally requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are entitled levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to sell the property.

What makes a Mossley lease defective?

There is nothing unique about leasehold conveyancing in Mossley. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

I inherited a 2 bed flat in Mossley, conveyancing formalities finalised in 2001. How much will my lease extension cost? Similar flats in Mossley with a long lease are worth £179,000. The ground rent is £45 levied per year. The lease ends on 21st October 2099

With 73 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.