I am hoping to complete next month on a ground floor flat in Stockwood. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

• The total extent of the premises. This will be the apartment itself but may include a loft or basement if applicable.
• Will you be prohibited or prevented from having pets in the property?
• You should be told what constitutes 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 sinking fund?
• Changes to the flat (alterations and additions)
• Responsibility for repairing the window frames

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 been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Stockwood. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Stockwood ?

The majority of houses in Stockwood 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. We note that you are purchasing in Stockwood so you should seriously consider looking for a Stockwood conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

I own a leasehold flat in Stockwood. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Stockwood who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Stockwood conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a reputable estate agency in Stockwood where we see a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Stockwood conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as 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. The benefit of this is that the buyer 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 needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 are the frequently found problems that you see in leases for Stockwood properties?

There is nothing unique about leasehold conveyancing in Stockwood. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• 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 encounter 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. Santander, Barnsley 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 problematic they may refuse to provide security, obliging the buyer to pull out.

I own a 1 bedroom flat in Stockwood, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Stockwood with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2085

You have 59 years unexpired we estimate the premium for your lease extension to span between £20,900 and £24,200 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.