I am in need of some leasehold conveyancing in Walton. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Walton - 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.

I am hoping to complete next month on a ground floor flat in Walton. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Does the lease prevent you from letting out the flat, or working from home
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Repair and maintenance of the flat
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What you can do if a neighbour is in violation of a provision in their lease?

My wife and I purchased a leasehold house in Walton. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Walton who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Walton conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in Walton which have in the region of fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Walton is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of buyers and banks, leases with less than 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 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 Walton 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.

We have reached the end of our tether in negotiating a lease extension in Walton. Can this matter be resolved via the Leasehold Valuation Tribunal?

You certainly can. We are happy to put you in touch with a Walton conveyancing firm who can help.

An example of a Lease Extension case for a Walton residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The the unexpired term as at the valuation date was 82.93 years.

Are there common defects that you encounter in leases for Walton properties?

There is nothing unique about leasehold conveyancing in Walton. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

I own a 2 bed flat in Walton, conveyancing was carried out in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Walton with an extended lease are worth £230,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2086

With just 60 years remaining on your lease we estimate the premium for your lease extension to span between £21,900 and £25,200 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.