I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Chantry. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Chantry ?

The majority of houses in Chantry are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Chantry in which case you should be shopping around for a Chantry conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I own a leasehold flat in Chantry. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Chantry who previously acted has now retired.Any advice?

First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Chantry conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Chantry both have in the region of 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Chantry. 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 costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I've recently bought a leasehold house in Chantry. 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. Strange as it may seem, 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).

We expect to complete the disposal of our £325000 apartment in Chantry in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chantry?

Chantry conveyancing on leasehold maisonettes often requires the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.

Leasehold Conveyancing in Chantry - Examples of Questions you should ask Prior to buying

Does the lease have onerous restrictions? The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees have control and even though a managing agent is usually employed if it is bigger than a house conversion, the managing agent is directed by the tenants. Generally speaking the cost for major works tend not to be built into the maintenance charges, although some managing agents in Chantry obliged leaseholders to contribute towards a reserve fund and this is used to offset against major works.

Other Topics

Lease Extensions in Chantry