Planning to complete next month on a basement flat in Wisbech. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the property. This will be the flat itself but may include a loft or cellar if applicable.
• Does the lease require carpeting throughout thus preventing wood flooring?
• Whether your lease has a provision for a reserve fund?
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wisbech. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Wisbech are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Wisbech so you should seriously consider shopping around for a Wisbech conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I own a leasehold house in Wisbech. Conveyancing and Virgin Money mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Wisbech who previously acted has long since retired.What should I do?

First 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 Wisbech conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Wisbech both have about forty five years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Wisbech. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to choosing a Wisbech conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Wisbech conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Wisbech 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 useful:

• How experienced is the firm with lease extension legislation?
• Can they put you in touch with client in Wisbech who can give a testimonial?

I invested in buying a garden flat in Wisbech, conveyancing was carried out 2012. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Wisbech with a long lease are worth £205,000. The ground rent is £60 yearly. The lease ceases on 21st October 2076

With only 50 years unexpired we estimate the price of your lease extension to range between £36,100 and £41,800 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.