Expecting to exchange soon on a studio apartment in Woburn. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• Defining your rights in respect of the communal areas in the block.By way of example, does the lease provide for a right of way over a path or hallways?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• 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
• Repair and maintenance of the flat
• 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.
• What the implications are if you breach a clause of your lease?

I am looking at a two apartments in Woburn both have about 50 years unexpired on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Woburn. Am I liable to pay service charges for periods before my ownership?

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. However, 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).

I am a negotiator for a busy estate agency in Woburn where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Woburn conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

As long as 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.

What advice can you give us when it comes to appointing a Woburn conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Woburn conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Woburn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?
• If the firm is not ALEP accredited then why not?

Leasehold Conveyancing in Woburn - A selection of Questions you should ask Prior to buying

For many Woburn leaseholds the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Woburn obliged leaseholders to pay into a sinking fund created for the specific purpose of building a fund for major works. Can you inform me if there are any major works anticipated that could add a premium to the maintenance fees?