I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Chesham Bois. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Chesham Bois ?

Most houses in Chesham Bois are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chesham Bois in which case you should be shopping around for a Chesham Bois conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Chesham Bois. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Chesham Bois who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Chesham Bois conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold property in Chesham Bois. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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).

I work for a long established estate agency in Chesham Bois where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Chesham Bois conveyancing firms. Could 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 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 needs to be completed before, or simultaneously with completion of the disposal of the property.

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 purchaser.

When it comes to leasehold conveyancing in Chesham Bois what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Chesham Bois. Most leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• 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

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, Barnsley Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I am the registered owner of a garden flat in Chesham Bois, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Chesham Bois with a long lease are worth £254,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2078

With 52 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.