I am in need of some leasehold conveyancing in Bletchley. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Bletchley - 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 am hoping to exchange soon on a basement flat in Bletchley. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• Are you allowed to have a pet in the flat?

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out 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 Bletchley. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Bletchley 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. We note that you are purchasing in Bletchley in which case you should be looking for a Bletchley conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

Last month I purchased a leasehold flat in Bletchley. 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 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).

What makes a Bletchley lease unacceptable for security purposes?

Leasehold conveyancing in Bletchley is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• 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

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

Bletchley Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

Does the lease have onerous restrictions? This question is helpful as a) areas can result in problems for the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will want to know about it Please note that where the lease has fewer than eighty years it will affect the marketability of the flat. Check with your mortgage company that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for 24 months in order to be legally able to exercise a lease extension.

Other Topics

Lease Extensions in Bletchley