Estate agents have just been given the go-ahead to market my ground floor apartment in Derby.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 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 tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Derby. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Derby are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Derby so you should seriously consider shopping around for a Derby conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Derby. Conveyancing and Platform Home Loans Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Derby who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Derby conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to choosing a Derby 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 Derby conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Derby conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• What volume of lease extensions has the firm completed in Derby in the last twenty four months?

Are there common defects that you encounter in leases for Derby properties?

There is nothing unique about leasehold conveyancing in Derby. All leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair 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.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Skipton Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

I own a ground floor flat in Derby, conveyancing formalities finalised 9 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Derby with a long lease are worth £212,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2079

With only 54 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

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Lease Extensions in Derby