Planning to sign contracts shortly on a basement flat in Thatcham. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• 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
• You should have a good understanding of the insurance provisions
• 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.
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Thatcham. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Thatcham ?

The majority of houses in Thatcham are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Thatcham so you should seriously consider shopping around for a Thatcham conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.

Last month I purchased a leasehold property in Thatcham. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part 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).

Can you provide any advice for leasehold conveyancing in Thatcham from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Thatcham can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
• Many freeholders or managing agents in Thatcham levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Thatcham.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Thatcham leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the approvals in place do not communicate with the landlord without checking with your conveyancer in advance.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming process and frustrates many a Thatcham conveyancing transaction. Where a duplicate share is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
• You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the disposal of our £ 500000 garden flat in Thatcham on Friday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Thatcham?

Thatcham conveyancing on leasehold apartments normally involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

I own a 2 bed flat in Thatcham, conveyancing formalities finalised in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Thatcham with an extended lease are worth £228,000. The ground rent is £50 levied per year. The lease expires on 21st October 2084

With only 58 years left to run we estimate the premium for your lease extension to range between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.