I am on look out for some leasehold conveyancing in Cirencester. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Cirencester - then the leasehold title will always include the short particulars 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.

Back In 2001, I bought a leasehold flat in Cirencester. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Cirencester who previously acted has now retired.Any advice?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Cirencester conveyancing lawyer to do this as it can be done on-line for a few pound. You should note 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.

I am tempted by the attractive purchase price for a two maisonettes in Cirencester both have about fifty years left on the lease term. Will this present a problem?

There are plenty of short leases in Cirencester. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I am employed by a long established estate agency in Cirencester where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Cirencester conveyancing solicitors. Please 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 owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 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.

What are the frequently found defects that you see in leases for Cirencester properties?

There is nothing unique about leasehold conveyancing in Cirencester. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• 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 will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Skipton Building Society, and Aldermore all have express conveyancing instructions 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, forcing the buyer to withdraw.

Cirencester Leasehold Conveyancing - Examples of Queries before Purchasing

What restrictions exist in the Cirencester Lease? Is there a share of the freehold? The majority of Cirencester leasehold apartments will incur a service charge for maintenance of the block set on behalf of the landlord. If you buy the flat you will have to meet this contribution, normally periodically throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay yearly, ordinarily this is not a significant sum, say around £25-£75 but you need to enquire as on occasion it can be many hundreds of pounds.

Other Topics

Lease Extensions in Cirencester