Having had my offer accepted I require leasehold conveyancing in Tilehurst. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Tilehurst - 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.

Due to exchange soon on a ground floor flat in Tilehurst. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Tilehurst should include some of the following:

• You should receive a copy of the lease

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Tilehurst. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Tilehurst 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 Tilehurst in which case you should be looking for a Tilehurst conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority 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 comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Tilehurst. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Tilehurst who acted for me is not around.What should I do?

First contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Tilehurst conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

When it comes to leasehold conveyancing in Tilehurst what are the most common lease defects?

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

• A provision to repair 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 will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Barclays Direct 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 problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Tilehurst - Sample of Queries before Purchasing

Can you tell me if there are any major works on the horizon that will add a premium to the maintenance costs? The best form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the leaseholders enjoy control and notwithstanding that a managing agent is frequently employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Please note that where the lease has no more than eighty years it will impact the value of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will need to own the property for a couple of years in order to be eligible to carry out a lease extension.

Other Topics

Lease Extensions in Tilehurst