I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Almondsbury. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Almondsbury ?

The majority of houses in Almondsbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Almondsbury so you should seriously consider looking for a Almondsbury conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

My wife and I purchased a leasehold house in Almondsbury. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Almondsbury who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Almondsbury conveyancing lawyer to do this as it can be done on-line for a few pound. 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.

I am tempted by the attractive purchase price for a couple of apartments in Almondsbury which have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Almondsbury. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

What are your top tips when it comes to choosing a Almondsbury conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Almondsbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Almondsbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?
• If the firm is not ALEP accredited then what is the reason?

Are there common problems that you witness in leases for Almondsbury properties?

Leasehold conveyancing in Almondsbury is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• 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

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

I am the registered owner of a basement flat in Almondsbury, conveyancing having been completed 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Almondsbury with a long lease are worth £176,000. The ground rent is £60 invoiced every year. The lease runs out on 21st October 2076

You have 50 years remaining on your lease we estimate the price of your lease extension to range between £35,200 and £40,600 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.