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

Assuming the lease is recorded at the land registry - and almost all are in Broadstone - 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 have recently realised that I have 72 years left on my lease in Broadstone. I now want to get lease extension but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. On the whole a specialist would be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Broadstone.

My wife and I purchased a leasehold house in Broadstone. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Broadstone who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Broadstone conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, 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 flats in Broadstone both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Broadstone. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £500000 garden flat in Broadstone next week. The management company has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Broadstone?

For most leasehold sales in Broadstone conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange questions
• Where consent is required before sale in Broadstone
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Broadstone leasehold property is £350. For Broadstone conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Leasehold Conveyancing in Broadstone - A selection of Queries Prior to Purchasing

The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and although a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. How many years are left on the lease? You will want to discover as much as possible concerning the managing agents as they will either make your life much simpler or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day issues like the tidiness of the common parts. Don't be shy to ask other people if they are happy with them. Finally, investigate as to the dates that the maintenance charges are due to the managing agents and specifically what it includes.

Other Topics

Lease Extensions in Broadstone