Looking forward to complete next month on a basement flat in Potswood. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I have just started marketing my 2 bed flat in Potswood.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

It best that you clear 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 managing agents will not acknowledge the buyer until 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 today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Potswood. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

Most houses in Potswood are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Potswood in which case you should be shopping around for a Potswood conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I am a negotiator for a busy estate agent office in Potswood where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Potswood conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

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 proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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.

If all goes to plan we aim to complete the sale of our £375000 apartment in Potswood in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Potswood?

Potswood conveyancing on leasehold apartments often necessitates the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

I invested in buying a split level flat in Potswood, conveyancing was carried out 1999. How much will my lease extension cost? Equivalent properties in Potswood with over 90 years remaining are worth £220,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2094

With 69 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive 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 clearly you 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.

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Lease Extensions in Potswood