I am hoping to complete next month on a ground floor flat in Wareham. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

• Defining your rights in relation to common areas in the building.For example, does the lease grant a right of way over an accessway or staircase?

I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Wareham. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Wareham ?

Most houses in Wareham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Wareham in which case you should be shopping around for a Wareham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold house in Wareham. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Wareham who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Wareham conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a busy estate agency in Wareham where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Wareham conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

In relation to leasehold conveyancing in Wareham what are the most common lease problems?

Leasehold conveyancing in Wareham is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• 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, Chelsea Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I invested in buying a studio flat in Wareham, conveyancing having been completed in 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Wareham with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2097

You have 72 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as professional fees.

The suggested premium range above 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 are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Wareham