Having had my offer accepted I require leasehold conveyancing in Binfield. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Binfield - 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 meet my requirements, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Binfield. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Binfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Binfield in which case you should be shopping around for a Binfield conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold house in Binfield. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Binfield who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Binfield conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured 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've recently bought a leasehold flat in Binfield. Do I have any liability for service charges relating to a period prior to my ownership?

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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

I work for a reputable estate agency in Binfield where we have experienced a few flat sales jeopardised due to short leases. I have received conflicting advice from local Binfield conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

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 purchaser.

Leasehold Conveyancing in Binfield - Sample of Queries before buying

The answer will be important as a) areas could cause problems for the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the tenants have an issue with the running of the building you will need to have all the details Is there a share of the freehold? You should be aware if it is fewer than 80 years it will affect the salability of the apartment. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you would need to own the premises for a couple of years in order to be legally able to extend the lease.

Other Topics

Lease Extensions in Binfield