Estate agents have just been given the go-ahead to market my basement apartment in Chalfont St Giles.Conveyancing has not commenced but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Chalfont St Giles. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Chalfont St Giles ?

Most houses in Chalfont St Giles 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 Chalfont St Giles so you should seriously consider looking for a Chalfont St Giles conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

I've recently bought a leasehold property in Chalfont St Giles. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 offer any advice when it comes to appointing a Chalfont St Giles conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Chalfont St Giles conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Chalfont St Giles conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?
• How many lease extensions has the firm conducted in Chalfont St Giles in the last twenty four months?

What makes a Chalfont St Giles lease unmortgageable?

There is nothing unique about leasehold conveyancing in Chalfont St Giles. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. 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 building
• A duty to insure the building
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Bank of Ireland all have express 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 provide security, obliging the buyer to withdraw.

Chalfont St Giles Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Is the freehold reversion owned collectively by the leaseholders? What is the length of the lease?