Having had my offer accepted I require leasehold conveyancing in Amersham. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Amersham - 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've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Amersham. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Amersham ?

The majority of houses in Amersham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Amersham so you should seriously consider shopping around for a Amersham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of apartments in Amersham both have about fifty years left on the lease term. should I be concerned?

There are plenty of short leases in Amersham. The 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 expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold property in Amersham. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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).

Can you provide any top tips for leasehold conveyancing in Amersham with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Amersham can be reduced where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
• The majority landlords or managing agents in Amersham charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Amersham.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Amersham leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. Where you dont have the approvals to hand you should not contact the landlord without contacting your lawyer before hand.
• If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and delays many a Amersham conveyancing transaction. If a duplicate share is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I own a ground floor flat in Amersham, conveyancing was carried out in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Amersham with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2106

With only 80 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.