Expecting to complete next month on a studio apartment in Rise Park. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Rise Park 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 physical extent of the demise. This will be the flat itself but may include a roof space or cellar if appropriate.
• Does the lease require carpeting throughout thus preventing wood flooring?
• You should be told what counts as a Nuisance in the lease
• Whether your lease has a provision for a reserve fund?
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What the implications are if you breach a clause of your lease?

I own a leasehold flat in Rise Park. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Rise Park who previously acted has long since retired.Any advice?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Rise Park conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a busy estate agent office in Rise Park where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Rise Park conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 simultaneously with completion of the sale.

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 advice can you give us when it comes to appointing a Rise Park conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Rise Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Rise Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How many lease extensions has the firm carried out in Rise Park in the last year?
• Can they put you in touch with client in Rise Park who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Rise Park from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Rise Park can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Rise Park leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such changes. Where you dont have the paperwork in place you should not contact the landlord without checking with your conveyancer in advance.
• A minority of Rise Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 make sure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming formality and frustrates many a Rise Park conveyancing transaction. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important 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 home on the market for sale.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Rise Park conveyancing firm to represent me?

Most definitely. We are happy to put you in touch with a Rise Park conveyancing firm who can help.

An example of a Lease Extension case for a Rise Park flat is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case related to 1 flat.

I am the registered owner of a leasehold flat in Rise Park, conveyancing having been completed in 2006. How much will my lease extension cost? Equivalent flats in Rise Park with a long lease are worth £169,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2091

You have 65 years unexpired the likely cost is going to be between £13,300 and £15,400 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. 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. You should not take any other action placing reliance on this information before seeking the advice of a professional.