I have just appointed agents to market my garden flat in Twyford.Conveyancing has not commenced but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?

It best that you clear the service charge 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 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.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Twyford. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Twyford ?

Most houses in Twyford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Twyford in which case you should be looking for a Twyford conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Twyford both have in the region of fifty years unexpired on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to finding a Twyford conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Twyford conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Twyford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the practice with lease extension legislation?

Completion in due on the disposal of our £350000 apartment in Twyford in just under a week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Twyford?

Twyford conveyancing on leasehold flats often involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements 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 sell the property.

I am the registered owner of a basement flat in Twyford, conveyancing was carried out in 2010. Can you work out an approximate cost of a lease extension? Equivalent properties in Twyford with over 90 years remaining are worth £166,000. The ground rent is £50 per annum. The lease ends on 21st October 2079

With only 55 years unexpired we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Twyford