Due to sign contracts shortly on a ground floor flat in Skelmersdale. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Skelmersdale should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Setting out your rights in respect of common areas in the building.By way of example, does the lease provide for a right of way over a path or staircase?
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• 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

I’m about to sell my garden flat in Skelmersdale.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – Do I pay up?

The sensible thing to do is clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Skelmersdale. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Skelmersdale ?

The majority of houses in Skelmersdale are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Skelmersdale in which case you should be shopping around for a Skelmersdale conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of apartments in Skelmersdale which have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Skelmersdale is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Skelmersdale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I work for a long established estate agent office in Skelmersdale where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Skelmersdale conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities 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. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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.

I own a ground floor flat in Skelmersdale, conveyancing was carried out in 1996. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Skelmersdale with over 90 years remaining are worth £240,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2086

With 60 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. 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.