Having had my offer accepted I require leasehold conveyancing in Oxted. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Oxted - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I’m about to sell my basement apartment in Oxted.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?

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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a couple of maisonettes in Oxted both have in the region of fifty years left on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. 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 extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to appointing a Oxted conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Oxted conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Oxted conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

All being well we will complete the disposal of our £400000 garden flat in Oxted on Tuesday in a week. The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Oxted?

Oxted conveyancing on leasehold flats usually involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I purchased a 1 bedroom flat in Oxted, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Oxted with an extended lease are worth £224,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2076

With 51 years left to run the likely cost is going to be between £37,100 and £42,800 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Oxted