I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Yate. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Yate are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Yate in which case you should be shopping around for a Yate conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.

I am attracted to a two maisonettes in Yate both have in the region of forty five years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. 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 extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

I am a negotiator for a long established estate agent office in Yate where we have experienced a number of leasehold sales derailed due to short leases. I have been given contradictory information from local Yate conveyancing firms. Can you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease 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 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 needs to be completed prior to, or at the same time as 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.

What are your top tips when it comes to choosing a Yate conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Yate conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Yate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

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

What makes a Yate lease unmortgageable?

Leasehold conveyancing in Yate is not unique. All leases are individual and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Barclays Direct all have very detailed 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 defective they may refuse to provide security, obliging the buyer to pull out.

I inherited a ground floor flat in Yate, conveyancing having been completed in 2004. How much will my lease extension cost? Corresponding properties in Yate with a long lease are worth £226,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2092

With just 66 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.