I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Buckden. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Buckden are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Buckden in which case you should be shopping around for a Buckden conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First 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 will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

I own a leasehold house in Buckden. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Buckden who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Buckden conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, 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 two flats in Buckden which have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold house in Buckden. Am I liable to pay service charges for periods before 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. A critical element 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).

Can you provide any top tips for leasehold conveyancing in Buckden with the intention of expediting the sale process?

• Much of the delay in leasehold conveyancing in Buckden can be reduced where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Buckden leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer first.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
• If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a time consuming process and frustrates many a Buckden home move. If a new share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Buckden Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

It would be prudent to discover as much as you can regarding the managing agents as they will either make life much simpler or much more difficult. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the upkeep of the communal areas. Ask prospective neighbours what they think of their service. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds. For many Buckden leaseholds the outlay for major works are not wrapped into the service charges, although there some managing agents in Buckden obliged leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.