I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Chessington. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Chessington ?

Most houses in Chessington are freehold and not 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 apparent that you are buying in Chessington so you should seriously consider shopping around for a Chessington conveyancing solicitor and check that they have experience in transacting 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 will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am looking at a couple of flats in Chessington both have approximately fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Chessington. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Chessington. 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. 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).

I am a negotiator for a reputable estate agent office in Chessington where we have experienced a few leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Chessington conveyancing solicitors. Can you clarify whether the vendor of a flat can start the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Chessington conveyancing firm to represent me?

Most definitely. We can put you in touch with a Chessington conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Chessington residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.

When it comes to leasehold conveyancing in Chessington what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Chessington. All leases are unique and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• 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

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Chessington Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

Be sure to discover if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Chessington. If you love the apartmentin Chessington however your dog is not allowed to make the move with you then you have a very hard decision. It is important to be aware if window replacement or some other major work is due shortly that will be shared between the leaseholders and may well dramatically impact the level of the maintenance costs or require a specific payment.