Planning to sign contracts shortly on a ground floor flat in Cottenham. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Cottenham should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Cottenham. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Cottenham ?

Most houses in Cottenham 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 apparent that you are buying in Cottenham so you should seriously consider looking for a Cottenham conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First 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 freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.

Back In 2008, I bought a leasehold house in Cottenham. Conveyancing and Bank of Scotland mortgage organised. 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 1996. The conveyancing solicitor in Cottenham who acted for me is not around.What should I do?

First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Cottenham conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Cottenham. 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 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. 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).

What are your top tips when it comes to finding a Cottenham conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Cottenham conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Cottenham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How many lease extensions has the firm completed in Cottenham in the last year?

Cottenham Conveyancing for Leasehold Flats - Examples of Queries before buying

The best form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is usually retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Best to be warned if a new roof is being put on or some other significant cost is due in the near future to be shared amongst the leasehold owners and could well materially increase the the service costs or require a specific invoice. Most Cottenham leasehold properties will be liable to pay a service bill for the upkeep of the building levied by the landlord. If you purchase the apartment you will have to meet this amount, normally in instalments during the year. This may be anything from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant figure, say approximately £25-£75 but you need to enquire as on occasion it could be many hundreds of pounds.

Other Topics

Lease Extensions in Cottenham