Expecting to complete next month on a studio apartment in Ouston. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Ouston should include some of the following:

• Defining your legal entitlements in respect of the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
• Does the lease prohibit wood flooring?
• 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
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames

I’m about to sell my 2 bed flat in Ouston.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – 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've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Ouston. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Ouston are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Ouston so you should seriously consider shopping around for a Ouston conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am attracted to a couple of apartments in Ouston both have approximately forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Ouston. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to choosing a Ouston conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Ouston conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Ouston conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

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

I acquired a 1st floor flat in Ouston, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Ouston with over 90 years remaining are worth £166,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2080

With 54 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.