Having had my offer accepted I require leasehold conveyancing in Woburn. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Woburn - 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.

I have just started marketing my basement apartment in Woburn.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 management companies 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.

I am looking at a two maisonettes in Woburn which have approximately 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold flat in Woburn. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation 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. However, 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).

Can you offer any advice when it comes to choosing a Woburn conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Woburn conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Woburn conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

Woburn Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

Is anyone aware of any major works in the planning that could increase the service charges? You should be aware if it is no more than eighty years it will impact the marketability of the flat. Check with your mortgage company that they are happy with the length of the lease. A short lease means that you will probably require a lease extension at some point and it is worth discovering how much this will be. For most Woburnlease extensions you would be required to have owned the property for two years before you are eligible to extend the lease. The answer will be important as a) areas can cause problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the managing agents you will need to have full disclosure

Other Topics

Lease Extensions in Woburn