I’m about to sell my 2 bed flat in Ripley.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the service charge 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. This will smooth the conveyancing process.

I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Ripley. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Ripley are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Ripley in which case you should be shopping around for a Ripley conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

I am attracted to a two apartments in Ripley both have about fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Ripley. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold house in Ripley. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

Are there common problems that you see in leases for Ripley properties?

There is nothing unique about leasehold conveyancing in Ripley. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Platform Home Loans Ltd all have express requirements 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 inherited a 2 bed flat in Ripley, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Ripley with over 90 years remaining are worth £212,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2102

You have 76 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.