Looking forward to sign contracts shortly on a studio apartment in Farringdon. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• The total extent of the premises. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
• Does the lease prohibit wood flooring?
• 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.
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• Responsibility for repairing the window frames
• What you can do if a neighbour is in violation of a provision in their lease?

I own a leasehold flat in Farringdon. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Farringdon who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Farringdon conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

Where the service charge has already been demanded from the previous owner 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. It is an essential part 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 Farringdon conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Farringdon conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Farringdon conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

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

Do you have any advice for leasehold conveyancing in Farringdon with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Farringdon can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
• Many freeholders or managing agents in Farringdon charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Farringdon.
• A minority of Farringdon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a time consuming process and frustrates many a Farringdon conveyancing transaction. If a duplicate share is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I am the leaseholder of a two-bedroom flat in Farringdon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

Most certainly. We are happy to put you in touch with a Farringdon conveyancing firm who can help.

An example of a Lease Extension decision for a Farringdon property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.

Leasehold Conveyancing in Farringdon - Examples of Questions you should consider Prior to buying

You should want to discover as much as you can regarding the company managing the building as they will either make your living at the property much easier or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. Ask other tenants what they think of their management. In conclusion, be sure you know the dates that you are obliged pay the service charge to the appropriate party and specifically what it includes. Best to be warned whether fixing the lift or some other significant cost is coming up to be shared amongst the leaseholders and will dramatically increase the the maintenance costs or require a one time payment.