I am in need of some leasehold conveyancing in Boscombe. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Boscombe - 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 be perfect, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Boscombe. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Boscombe are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Boscombe so you should seriously consider looking for a Boscombe conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

Back In 2009, I bought a leasehold house in Boscombe. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Boscombe who previously acted has now retired.What should I do?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Boscombe conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Boscombe both have approximately forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Boscombe is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Boscombe 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.

I am a negotiator for a busy estate agent office in Boscombe where we have witnessed a few leasehold sales derailed due to short leases. I have been given contradictory information from local Boscombe conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is 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 buyer.

Boscombe Conveyancing for Leasehold Flats - Examples of Queries before Purchasing