I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Cookham. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Cookham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cookham in which case you should be looking for a Cookham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority 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 will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

My wife and I purchased a leasehold house in Cookham. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Cookham who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Cookham conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Cookham. Am I liable to pay service charges relating to a period prior to my ownership?

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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 apartment in Cookham next week. The freeholder has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Cookham?

For the majority of leasehold sales in Cookham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Cookham
• 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 Cookham leasehold premises is £350. For Cookham 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 obliged to provide the information.

What are the frequently found defects that you witness in leases for Cookham properties?

There is nothing unique about leasehold conveyancing in Cookham. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Cookham Leasehold Conveyancing - Sample of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? Plenty Cookham leasehold apartments will incur a service bill for the upkeep of the building set by the freeholder. Should you acquire the flat you will have to pay this amount, normally in instalments accross the year. This may differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant sum, say around £50-£100 but you should to enquire it because sometimes it could be prohibitively expensive. What restrictions exist in the Cookham Lease?

Other Topics

Lease Extensions in Cookham