I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Cambridge. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Cambridge are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Cambridge in which case you should be looking for a Cambridge conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder 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’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Cambridge. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Cambridge who previously acted has now retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Cambridge conveyancing lawyer to do this as it can be done on-line for £3. Rest assured 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 employed by a busy estate agent office in Cambridge where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Cambridge conveyancing firms. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 purchaser.

Can you offer any advice when it comes to choosing a Cambridge conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Cambridge conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Cambridge conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they conducted in Cambridge in the last year?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225000 apartment in Cambridge on Wednesday in a week. The freeholder has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Cambridge?

Cambridge conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to exchange contracts with the buyer.

Cambridge Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Make sure you discover if the the lease includes any unreasonable restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Cambridge. If you love the propertyin Cambridge however your dog can’t move with you then you have a very difficult compromise. It is important to be aware whether a new roof is being installed or some other major work is coming up that will be shared between the leasehold owners and will materially impact the level of the service costs or require a specific payment. The prefered form of lease structure is a share of the freehold. In this scenario the lessees benefit from control and notwithstanding that a managing agent is frequently retained where it is larger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Cambridge