I am on look out for some leasehold conveyancing in Amersham. Before I get started I require certainty as to the remaining lease term.

If the lease is registered - and 99.9% 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.

Planning to exchange soon on a studio apartment in Amersham. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Amersham should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The physical extent of the premises. This will be the flat itself but could also incorporate a roof space or cellar if applicable.
• Defining your legal entitlements in relation to common areas in the block.For instance, does the lease include a right of way over an accessway or staircase?
• You must be told what constitutes a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Repair and maintenance of the flat

Back In 2005, I bought a leasehold house in Amersham. Conveyancing and Aldermore mortgage organised. 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 1993. The conveyancing practitioner in Amersham who previously acted has now retired.What should I do?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Amersham conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Amersham both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Amersham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Amersham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any top tips for leasehold conveyancing in Amersham from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Amersham can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Amersham state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your conveyancer in the first instance.
• If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.
• If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a re-issued share certificate is often a lengthy formality and frustrates many a Amersham home move. If a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Amersham Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

You should be aware that where the lease has less than eighty years it will have adverse implications on the marketability of the property. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Amershamlease extensions you will be required to have been the owner of the premises for two years before you are entitled to carry out a lease extension. On the whole the outlay for major works tend not to be included within service charges, albeit that some managing agents in Amersham obliged leaseholders to pay into a reserve fund created for the specific intention of building a fund for larger works.