Expecting to exchange soon on a studio apartment in West Smithfield. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in West Smithfield should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• Does the lease require carpeting throughout thus preventing wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• Repair and maintenance of the flat
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I own a leasehold house in West Smithfield. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in West Smithfield who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a West Smithfield conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in West Smithfield with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in West Smithfield can be reduced if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
• Many freeholders or managing agents in West Smithfield levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in West Smithfield.
• A minority of West Smithfield leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
• You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the sale of our £ 175000 apartment in West Smithfield in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in West Smithfield?

West Smithfield conveyancing on leasehold apartments usually involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.

Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in West Smithfield. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most certainly. We are happy to put you in touch with a West Smithfield conveyancing firm who can help.

An example of a Lease Extension case for a West Smithfield residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired lease term was 66.8 years.

What makes a West Smithfield lease defective?

There is nothing unique about leasehold conveyancing in West Smithfield. Most leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Alliance & Leicester 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, forcing the purchaser to withdraw.

West Smithfield Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

You should be aware that where the lease has no more than 80 years it will impact the value of the property. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would be required to have been the owner of the residence for a couple of years in order to be entitled to extend the lease. It is important to be aware if redecorating or some other major work is due shortly to be shared between the leasehold owners and will materially impact the level of the service costs or result in a specific invoice.