I have just started marketing my basement apartment in Newbridge.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice 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.

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Newbridge. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Newbridge are freehold rather than 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 purchasing in Newbridge in which case you should be looking for a Newbridge conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am employed by a busy estate agent office in Newbridge where we have experienced a number of leasehold sales put at risk due to short leases. I have been given conflicting advice from local Newbridge conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate 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. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. 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.

Can you provide any advice for leasehold conveyancing in Newbridge from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Newbridge can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Newbridge leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the approvals to hand do not communicate with the landlord without contacting your solicitor in advance.
• A minority of Newbridge 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 able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Newbridge conveyancing transaction. Where a reissued share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

We expect to complete our sale of a £ 375000 flat in Newbridge on Friday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Newbridge?

Newbridge conveyancing on leasehold apartments normally involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I inherited a basement flat in Newbridge, conveyancing formalities finalised 2005. How much will my lease extension cost? Similar properties in Newbridge with a long lease are worth £209,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2087

With only 61 years remaining on your lease the likely cost is going to range between £19,000 and £22,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.