You should [be sent a copy of the lease|receive a copy of the lease]

Looking forward to complete next month on a basement flat in Bourton on the Water. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Bourton on the Water should include some of the following:

• Does the lease prohibit wood flooring?
• Are pets allowed in the flat?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

For details of the information to be contained in your report on your leasehold property in Bourton on the Water please enquire of your conveyancer in ahead of your conveyancing in Bourton on the Water

I’m about to sell my ground floor flat in Bourton on the Water.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?

It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bourton on the Water. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Bourton on the Water 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. it is apparent that you are purchasing in Bourton on the Water so you should seriously consider looking for a Bourton on the Water conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Bourton on the Water. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Bourton on the Water who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Bourton on the Water conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of maisonettes in Bourton on the Water both have about 50 years left on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Bourton on the Water is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with under eighty years become less and less marketable. 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 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 Bourton on the Water conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

Leasehold Conveyancing in Bourton on the Water - Sample of Queries Prior to Purchasing

How much is the ground rent and service charge?