Due to complete next month on a studio apartment in Somerton. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Somerton 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 property itself but could also incorporate a loft or basement if appropriate.

You must be told what counts as a Nuisance in the lease

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Whether your lease has a provision for a reserve fund?

Changes to the flat (alterations and additions)

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Somerton please ask your solicitor in advance of your conveyancing in Somerton

I’m about to sell my 2 bed flat in Somerton.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?

It best that you discharge 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 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.

Last month I purchased a leasehold house in Somerton. Am I liable to pay service charges for periods before my ownership?

In a situation 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. A critical element 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).

If all goes to plan we aim to complete the disposal of our £475000 flat in Somerton in just under a week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Somerton?

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

• Answering pre-contract questions
• Where consent is required before sale in Somerton
• 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 Somerton leasehold property is £350. For Somerton 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 obliged to provide the information.

What makes a Somerton lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Somerton. Most leases are unique and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Barnsley Building Society, and Aldermore all have express conveyancing instructions 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 pull out.

I am the registered owner of a 2 bed flat in Somerton, conveyancing formalities finalised 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Somerton with over 90 years remaining are worth £227,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2082

With only 56 years left to run the likely cost is going to span between £30,400 and £35,200 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 extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

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Lease Extensions in Somerton