I have just started marketing my ground floor apartment in Wargrave.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is discharge 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 managing agents 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 own a leasehold house in Wargrave. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Wargrave who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Wargrave conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured 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 a negotiator for a busy estate agent office in Wargrave where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Wargrave conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have 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 prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 buyer.

Can you offer any advice when it comes to choosing a Wargrave conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Wargrave conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Wargrave conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the firm with lease extension legislation?
• What volume of lease extensions has the firm conducted in Wargrave in the last 12 months?

When it comes to leasehold conveyancing in Wargrave what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Wargrave. All leases is drafted differently and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Virgin Money, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I invested in buying a 2 bed flat in Wargrave, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Wargrave with over 90 years remaining are worth £263,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2088

With only 62 years unexpired we estimate the premium for your lease extension to be between £19,000 and £22,000 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.