Looking forward to sign contracts shortly on a studio apartment in Melbourn. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I have just appointed agents to market my 2 bed flat in Melbourn.Conveyancing has not commenced but I have just had a yearly service charge invoice – what should I do?

The sensible thing to do is discharge the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Melbourn. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Melbourn ?

The majority of houses in Melbourn 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. It is clear that you are purchasing in Melbourn in which case you should be shopping around for a Melbourn conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.

I am employed by a long established estate agent office in Melbourn where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Melbourn conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

When it comes to leasehold conveyancing in Melbourn what are the most frequent lease problems?

Leasehold conveyancing in Melbourn is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Nottingham Building Society all have express 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 withdraw.

I own a basement flat in Melbourn, conveyancing was carried out in 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Melbourn with a long lease are worth £256,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2085

With only 61 years remaining on your lease we estimate the premium for your lease extension to range between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Melbourn