I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Dymock. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Dymock ?

Most houses in Dymock are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Dymock so you should seriously consider shopping around for a Dymock conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

Back In 2006, I bought a leasehold flat in Dymock. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Dymock who previously acted has now retired.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Dymock conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Dymock which have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Dymock. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

I am a negotiator for a long established estate agent office in Dymock where we have witnessed a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local Dymock conveyancing solicitors. Can you shed some light as to 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 owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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.

What are the frequently found deficiencies that you encounter in leases for Dymock properties?

Leasehold conveyancing in Dymock is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Leeds Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Leasehold Conveyancing in Dymock - Sample of Queries before Purchasing

Plenty Dymock leasehold properties will be liable to pay a service bill for the upkeep of the block invoiced by the freeholder. Should you acquire the property you will have to pay this liability, usually quarterly throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, this is usually not a large sum, say around £25-£75 but you need to check it because sometimes it can be prohibitively expensive. Its a good idea to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with them. On a final note, investigate as to the dates that the maintenance charges are due to the relevant party and precisely what you get for your money.