Common questions relating to Leeswood leasehold conveyancing
I am on look out for some leasehold conveyancing in Leeswood. Before I get started I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Leeswood - then the leasehold title will always include the basic details 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 appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Leeswood. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Leeswood are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Leeswood in which case you should be shopping around for a Leeswood conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission 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 lawyer should appraise you on the various issues.
My wife and I purchased a leasehold house in Leeswood. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Leeswood who previously acted has now retired.What should I do?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Leeswood conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Leeswood. Do I have any liability for service charges relating to a period prior to my ownership?
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. A critical element 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 choosing a Leeswood conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Leeswood conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Leeswood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
Leeswood Leasehold Conveyancing - Sample of Questions you should ask before buying
-
The answer will be helpful as a) areas could cause problems in the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will want to have all the details
Is there a share of the freehold?
It is important to be aware if a new roof is being installed or some other major work is anticipated that will be shared amongst the leasehold owners and will dramatically impact the level of the service costs or necessitate a specific payment.
Other Topics