Planning to complete next month on a studio apartment in Whimple. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

• Defining your rights in relation to common areas in the building.By way of example, does the lease provide for a right of way over a path or staircase?

I have just started marketing my 2 bed flat in Whimple.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Whimple. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Whimple are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Whimple so you should seriously consider shopping around for a Whimple conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.

I work for a reputable estate agency in Whimple where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Whimple conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

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.

Completion in due on the disposal of our £500000 maisonette in Whimple on Monday in a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Whimple?

Whimple conveyancing on leasehold maisonettes usually necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to sell the property.

I am the registered owner of a leasehold flat in Whimple, conveyancing was carried out 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Whimple with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2080

With only 56 years left to run we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Whimple