I am on look out for some leasehold conveyancing in Plymstock. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Plymstock - 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.

Expecting to exchange soon on a ground floor flat in Plymstock. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Setting out your rights in relation to common areas in the block.By way of example, does the lease grant a right of way over a path or hallways?
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

I've recently bought a leasehold flat in Plymstock. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element 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).

I am a negotiator for a long established estate agent office in Plymstock where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Plymstock conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner 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 can avoid having 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 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 buyer.

In relation to leasehold conveyancing in Plymstock what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Plymstock. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have 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. National Westminster Bank, Virgin Money, and Nottingham Building Society all have express 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 provide security, obliging the buyer to withdraw.

I purchased a leasehold flat in Plymstock, conveyancing was carried out 2004. How much will my lease extension cost? Comparable properties in Plymstock with over 90 years remaining are worth £166,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2101

You have 75 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.