I am in need of some leasehold conveyancing in Stony Stratford. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Stony Stratford - 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 have recently realised that I have Fifty years left on my flat in Stony Stratford. I now wish to extend my lease but my freeholder is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases a specialist should be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Stony Stratford.

I am hoping to complete next month on a garden flat in Stony Stratford. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Stony Stratford should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Does the lease prohibit wood flooring?

You need to be told what constitutes a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this will change in the future

Whether your lease has a provision for a reserve fund?

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For a comprehensive list of information to be included in your report on your leasehold property in Stony Stratford please ask your conveyancer in advance of your conveyancing in Stony Stratford

I have just started marketing my ground floor flat in Stony Stratford.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – Do I pay up?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

All being well we will complete the disposal of our £425000 maisonette in Stony Stratford next Thursday . The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stony Stratford?

Stony Stratford conveyancing on leasehold maisonettes typically involves fees being levied by freeholders :

• Answering pre-contract enquiries
• Where consent is required before sale in Stony Stratford
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Stony Stratford leasehold property is £350. For Stony Stratford conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

Stony Stratford Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

Best to be warned if a new roof is being put on or some other significant cost is due in the foreseeable future that will be shared by the leasehold owners and will materially impact the level of the service costs or necessitate a one time payment. In the main the outlay for major works tend not to be built into the maintenance charges, although some managing agents in Stony Stratford ask leaseholders to pay into a reserve fund and this is used to offset against larger works. How much is the ground rent and service charge?

Other Topics

Lease Extensions in Stony Stratford