I am in need of some leasehold conveyancing in Alfreton. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Alfreton - 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 today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Alfreton. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Alfreton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Alfreton in which case you should be looking for a Alfreton conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Alfreton which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Alfreton. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a reputable estate agency in Alfreton where we see a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Alfreton conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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.

What advice can you give us when it comes to appointing a Alfreton conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Alfreton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Alfreton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?

Leasehold Conveyancing in Alfreton - Examples of Questions you should ask before buying

The answer will be helpful as a) areas may result in problems for the building as the common areas may begin to deteriorate where services are not paid for b) if the tenants have a dispute with the managing agents you will wish to know about it Be sure to discover if there is anything that is prohibited in the lease. For example it is reasonably common in Alfreton leases that pets are not allowed in in a block in Alfreton. If you love the apartmentin Alfreton yet your dog is not allowed to live with you then you will be presented with a hard decision. What is the service charge and ground rent on the apartment?

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Lease Extensions in Alfreton