I am on look out for some leasehold conveyancing in Summertown and Botley. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Summertown and Botley - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Due to complete next month on a garden flat in Summertown and Botley. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

I’m about to sell my 2 bed apartment in Summertown and Botley.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of flats in Summertown and Botley which have about forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Summertown and Botley is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most purchasers and banks, leases with under eighty 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 property 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 Summertown and Botley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 maisonette in Summertown and Botley in nine days. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Summertown and Botley?

Summertown and Botley conveyancing on leasehold maisonettes usually requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I purchased a ground floor flat in Summertown and Botley, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Summertown and Botley with over 90 years remaining are worth £220,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2078

With only 53 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 as well as 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 renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Summertown and Botley