Expecting to exchange soon on a leasehold property in Peak District. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• Setting out your legal entitlements in relation to the communal areas in the building.E.G., does the lease contain a right of way over an accessway or staircase?
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Are pets allowed in the flat?
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• 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.

My wife and I purchased a leasehold flat in Peak District. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Peak District who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Peak District conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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.

I am attracted to a couple of apartments in Peak District which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Peak District. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Peak District. 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 be sure 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).

What advice can you give us when it comes to finding a Peak District conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Peak District conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Peak District conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions have they completed in Peak District in the last twenty four months?
• What are the charges for lease extension work?

I am the registered owner of a studio flat in Peak District, conveyancing formalities finalised 3 years ago. 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? Equivalent properties in Peak District with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease finishes on 21st October 2099

You have 73 years left to run we estimate the price of your lease extension to range between £13,300 and £15,400 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.