Having had my offer accepted I require leasehold conveyancing in Hermitage. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Hermitage - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hermitage. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Hermitage ?

The majority of houses in Hermitage are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Hermitage so you should seriously consider shopping around for a Hermitage conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

My wife and I purchased a leasehold flat in Hermitage. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Hermitage 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 purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Hermitage conveyancing firm 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 no more than 6 years of rent can be collected.

Do you have any top tips for leasehold conveyancing in Hermitage from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Hermitage can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Hermitage state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your conveyancer in the first instance.

In relation to leasehold conveyancing in Hermitage what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Hermitage. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could 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, Chelsea Building Society, and Alliance & Leicester 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.

I am the registered owner of a basement flat in Hermitage, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Hermitage with over 90 years remaining are worth £219,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2099

With only 74 years left to run we estimate the price of your lease extension to span between £10,500 and £12,000 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use the figures 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. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Hermitage