Having had my offer accepted I require leasehold conveyancing in Chalfont St Giles. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Chalfont St Giles - 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.

Due to exchange soon on a basement flat in Chalfont St Giles. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Chalfont St Giles should include some of the following:

• You should receive a copy of the lease

The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

The total extent of the demise. This will be the apartment itself but may incorporate a roof space or cellar if applicable.

You need to be told what counts as a Nuisance in the lease

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Chalfont St Giles please enquire of your lawyer in advance of your conveyancing in Chalfont St Giles

I am tempted by the attractive purchase price for a couple of flats in Chalfont St Giles both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Chalfont St Giles is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and banks, leases with less than eighty years become less and less attractive. On a more upbeat 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 Chalfont St Giles conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

Completion in due on the disposal of our £400000 apartment in Chalfont St Giles next Thursday . The management company has quoted £408 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Chalfont St Giles?

Chalfont St Giles conveyancing on leasehold maisonettes usually involves fees being invoiced by managing agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Chalfont St Giles
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Chalfont St Giles leasehold property is £350. For Chalfont St Giles 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 provide answers.

In relation to leasehold conveyancing in Chalfont St Giles what are the most frequent lease defects?

Leasehold conveyancing in Chalfont St Giles is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Chalfont St Giles - A selection of Questions you should consider before buying

Please tell me if there are any major works in the near future that could add a premium to the service charges? How many of the leaseholders are in arrears for their maintenance charge payments? What is the the remaining lease term?

Other Topics

Lease Extensions in Chalfont St Giles