Having had my offer accepted I require leasehold conveyancing in Victoria Park. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Victoria Park - 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.

Expecting to exchange soon on a studio apartment in Victoria Park. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

Back In 2007, I bought a leasehold flat in Victoria Park. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Victoria Park who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Victoria Park conveyancing lawyer 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 landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold flat in Victoria Park. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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 makes a Victoria Park lease defective?

There is nothing unique about leasehold conveyancing in Victoria Park. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• 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 may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Alliance & Leicester all have express 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 provide security, forcing the purchaser to withdraw.

Leasehold Conveyancing in Victoria Park - Sample of Questions you should ask before Purchasing

Many Victoria Park leasehold properties will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the freeholder. If you purchase the apartment you will have to pay this amount, usually quarterly accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge for you to pay yearly, ordinarily this is not a significant sum, say around £50-£100 but you should to check as sometimes it can be many hundreds of pounds. What prohibitions are there in the Victoria Park Lease? Are any of leasehold owners in arrears of their service charge payments?

Other Topics

Lease Extensions in Victoria Park