Looking forward to sign contracts shortly on a ground floor flat in Totterdown. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• Whether the lease restricts you from letting out the flat, or having a home office for business
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• 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
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• Responsibility for repairing the window frames

Estate agents have just been given the go-ahead to market my ground floor apartment in Totterdown.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay 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 management companies 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. This will smooth the conveyancing process.

I am attracted to a two flats in Totterdown which have about forty five years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Totterdown is a deteriorating 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 premises. For most purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat 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 Totterdown 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 the agreed 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.

What are your top tips when it comes to choosing a Totterdown conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Totterdown conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Totterdown conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?
• What volume of lease extensions has the firm carried out in Totterdown in the last 12 months?

Can you provide any advice for leasehold conveyancing in Totterdown with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Totterdown can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Totterdown state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the consents to hand do not contact the landlord without checking with your lawyer in advance.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming formality and slows down many a Totterdown conveyancing deal. Where a reissued share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I bought a garden flat in Totterdown, conveyancing was carried out in 2002. How much will my lease extension cost? Comparable properties in Totterdown with a long lease are worth £171,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2084

You have 58 years unexpired the likely cost is going to be between £25,700 and £29,600 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.