Looking forward to complete next month on a studio apartment in Ramsey. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Will you be prohibited or prevented from having pets in the property?
• Does the lease prevent you from renting out the property, or working from home
• You must be told what constitutes a Nuisance in the lease
• Repair and maintenance of the flat
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What the implications are if you breach a clause of your lease?

I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Ramsey. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Ramsey ?

Most houses in Ramsey are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ramsey so you should seriously consider shopping around for a Ramsey conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct 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 located on an estate. Your solicitor should report to you on the legal implications.

I am employed by a busy estate agent office in Ramsey where we see a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Ramsey conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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.

What are your top tips when it comes to choosing a Ramsey conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Ramsey conveyancing practice) it is most important 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 Ramsey conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?
• What are the charges for lease extension conveyancing?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 500000 apartment in Ramsey next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Ramsey?

Ramsey conveyancing on leasehold apartments normally involves the purchaser’s solicitor submitting 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 do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I invested in buying a 1st floor flat in Ramsey, conveyancing formalities finalised in 2012. Can you work out an approximate cost of a lease extension? Comparable flats in Ramsey with over 90 years remaining are worth £235,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2091

You have 65 years unexpired we estimate the premium for your lease extension to span between £14,300 and £16,400 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.