I have just started marketing my 2 bed flat in Romsey.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 unless 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've found a house that seems to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Romsey. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Romsey ?

Most houses in Romsey 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 buying in Romsey in which case you should be looking for a Romsey conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

Can you provide any advice for leasehold conveyancing in Romsey with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Romsey can be avoided where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
• The majority freeholders or managing agents in Romsey charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Romsey.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Romsey leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the consents in place do not communicate with the landlord without checking with your solicitor in advance.

If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled.

You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 75 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 property on the market for sale.

Completion in due on the disposal of our £200000 apartment in Romsey on Thursday in a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Romsey?

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

• Answering pre-exchange questions
• Where consent is required before sale in Romsey
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Romsey leasehold premises is £350. For Romsey 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 supply answers.

When it comes to leasehold conveyancing in Romsey what are the most frequent lease defects?

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

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I invested in buying a basement flat in Romsey, conveyancing was carried out 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Romsey with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2100

With only 75 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

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Lease Extensions in Romsey