I am hoping to exchange soon on a basement flat in Rednal. Conveyancing lawyers 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 Rednal should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The total extent of the property. This will be the property itself but may include a loft or cellar if applicable.
• You should be told what counts as a Nuisance in the lease
• Whether your lease has a provision for a sinking fund?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

Last month I purchased a leasehold flat in Rednal. Am I liable to pay 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

What advice can you give us when it comes to appointing a Rednal conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Rednal conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Rednal conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• How many lease extensions has the firm completed in Rednal in the last twenty four months?

Do you have any top tips for leasehold conveyancing in Rednal with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Rednal can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• Many landlords or Management Companies in Rednal charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Rednal.
• If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy process and delays many a Rednal conveyancing transaction. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

When it comes to leasehold conveyancing in Rednal what are the most common lease problems?

Leasehold conveyancing in Rednal is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• 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

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I am the registered owner of a studio flat in Rednal, conveyancing was carried out 2001. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Rednal with an extended lease are worth £186,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2085

You have 59 years unexpired the likely cost is going to range between £24,700 and £28,600 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.