I have just appointed agents to market my ground floor flat in Wimborne.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice 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 management companies will not acknowledge the buyer unless 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 attracted to a two maisonettes in Wimborne both have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold property in Wimborne. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Can you offer any advice when it comes to choosing a Wimborne 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 Wimborne conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Wimborne conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• Can they put you in touch with client in Wimborne who can give a testimonial?
• What are the costs for lease extension work?

We expect to complete our sale of a £ 500000 maisonette in Wimborne on Friday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Wimborne?

Wimborne conveyancing on leasehold flats normally requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I bought a ground floor flat in Wimborne, conveyancing was carried out 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Wimborne with over 90 years remaining are worth £242,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2078

With only 52 years remaining on your lease we estimate the price of your lease extension to range between £35,200 and £40,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.