I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Walton. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Walton ?

The majority of houses in Walton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Walton so you should seriously consider looking for a Walton conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

I own a leasehold flat in Walton. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Walton who previously acted has long since retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Walton conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two flats in Walton both have in the region of forty five years remaining on the lease term. should I be concerned?

There are plenty of short leases in Walton. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Walton. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 ensure 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).

We expect to complete our sale of a £ 300000 flat in Walton next Wednesday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Walton?

Walton conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They are entitled charge a reasonable charge for responding to 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 situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to sell the property.

Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Walton. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to make a decision on the premium.

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

I invested in buying a 2 bed flat in Walton, conveyancing was carried out half a dozen years ago. 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? Comparable properties in Walton with over 90 years remaining are worth £250,000. The ground rent is £55 yearly. The lease runs out on 21st October 2093

With 67 years remaining on your lease the likely cost is going to span between £12,400 and £14,200 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 are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.