Having had my offer accepted I require leasehold conveyancing in Billericay. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Billericay - 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.

My wife and I may need to sub-let our Billericay 1st floor flat temporarily due to a career opportunity. We instructed a Billericay conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

The lease governs relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Billericay do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Billericay. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Billericay are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Billericay so you should seriously consider shopping around for a Billericay conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.

I've recently bought a leasehold flat in Billericay. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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).

When it comes to leasehold conveyancing in Billericay what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Billericay. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

Billericay Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

Be sure to enquire if there are any onerous prohibitions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Billericay. If you like the flatin Billericay however your cat is not allowed to live with you then you will be presented with a difficult compromise. Plenty Billericay leasehold flats will be liable to pay a service charge for the upkeep of the block levied by the management company. If you purchase the property you will have to meet this contribution, usually periodically during the year. This can be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay annual, ordinarily this is not a significant amount, say around £50-£100 but you need to enquire as occasionally it could be many hundreds of pounds. Where a Billericay lease has no more than eighty years it will impact the salability of the property. It is worth checking with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would need to own the residence for a couple of years in order to be legally able to carry out a lease extension.

Other Topics

Lease Extensions in Billericay