I am on look out for some leasehold conveyancing in Calcot. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Calcot - 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.

My wife and I purchased a leasehold house in Calcot. Conveyancing and Chelsea Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Calcot who previously acted has now retired.Do I pay?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Calcot conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, 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 looking at a two flats in Calcot both have in the region of 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Calcot. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area

I am employed by a reputable estate agency in Calcot where we have experienced a few flat sales derailed as a result of short leases. I have received contradictory information from local Calcot conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

What are the frequently found problems that you come across in leases for Calcot properties?

Leasehold conveyancing in Calcot is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Calcot - A selection of Queries before Purchasing

Plenty Calcot leasehold apartments will incur a service bill for the upkeep of the block levied by the landlord. Where you purchase the apartment you will have to meet this charge, normally quarterly during the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge to be met yearly, ordinarily this is not a large sum, say approximately £25-£75 but you need to check as occasionally it can be many hundreds of pounds. If a Calcot lease has no more than 80 years it will have adverse implications on the marketability of the flat. Check with your bank that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Calcotlease extensions you will need to own the premises for a couple of years in order to be entitled to extend the lease.