Due to complete next month on a garden flat in Oakley. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

• Does the lease require carpeting throughout thus preventing wood flooring?

I am attracted to a couple of flats in Oakley which have about forty five years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Oakley. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold flat in Oakley. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

When appointing a conveyancer for lease extension works (regardless if they are a Oakley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Oakley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then what is the reason?

We expect to complete our sale of a £200000 flat in Oakley in just under a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Oakley?

Oakley conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I bought a ground floor flat in Oakley, conveyancing having been completed 4 years ago. How much will my lease extension cost? Equivalent flats in Oakley with a long lease are worth £223,000. The ground rent is £55 yearly. The lease ends on 21st October 2092

You have 66 years remaining on your lease we estimate the price of your lease extension to span between £12,400 and £14,200 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Oakley