You should [be sent a copy of the lease|receive a copy of the lease]

I am hoping to sign contracts shortly on a ground floor flat in Newton Aycliffe. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

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

• The total extent of the premises. This will be the property itself but could also include a roof space or basement if appropriate.
• Are pets allowed in the flat?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• 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
• 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 options are open to you if a neighbour breach a clause of their lease?

For details of the information to be contained in your report on your leasehold property in Newton Aycliffe please ask your lawyer in advance of your conveyancing in Newton Aycliffe

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Newton Aycliffe. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Newton Aycliffe ?

The majority of houses in Newton Aycliffe are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Newton Aycliffe so you should seriously consider looking for a Newton Aycliffe 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 tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.

I am a negotiator for a busy estate agency in Newton Aycliffe where we have experienced a few leasehold sales derailed due to short leases. I have received conflicting advice from local Newton Aycliffe conveyancing firms. Can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start 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 simultaneously with completion of the disposal of the property.

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 purchaser.

All being well we will complete the sale of our £ 375000 garden flat in Newton Aycliffe in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Newton Aycliffe?

For most leasehold sales in Newton Aycliffe conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Newton Aycliffe
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Newton Aycliffe leasehold premises is £350. For Newton Aycliffe conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

What makes a Newton Aycliffe lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Newton Aycliffe. All leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Platform Home Loans Ltd all have very detailed conveyancing instructions 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 grant the mortgage, forcing the buyer to withdraw.

I own a studio flat in Newton Aycliffe, conveyancing formalities finalised 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Newton Aycliffe with an extended lease are worth £233,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2104

With 78 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.