I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Poundbury. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Poundbury are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Poundbury in which case you should be shopping around for a Poundbury conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I am a negotiator for a busy estate agent office in Poundbury where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Poundbury conveyancing firms. Can you confirm whether the owner of a flat can commence 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means 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 prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

Can you provide any top tips for leasehold conveyancing in Poundbury with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Poundbury can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Poundbury leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the consents in place you should not contact the landlord without contacting your lawyer first.
• A minority of Poundbury leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Organising a new share certificate can be a lengthy process and frustrates many a Poundbury conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Completion in due on the sale of our £ 125000 apartment in Poundbury on Wednesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Poundbury?

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

• Answering pre-exchange enquiries
• Where consent is required before sale in Poundbury
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Poundbury leasehold premises is £350. For Poundbury 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 required to provide the information.

What are the common defects that you come across in leases for Poundbury properties?

Leasehold conveyancing in Poundbury is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, 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 defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

I inherited a 1st floor flat in Poundbury, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Poundbury with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2077

You have 51 years remaining on your lease the likely cost is going to be between £33,300 and £38,400 plus legals.

The figure 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 due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.