I am on look out for some leasehold conveyancing in Cottesmore. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Cottesmore - then the leasehold title will always include the basic details 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.

Due to exchange soon on a basement flat in Cottesmore. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Cottesmore should include some of the following:

• Does the lease require carpeting throughout thus preventing wood flooring?

You need to be told what counts as a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this will change in the future

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Cottesmore please enquire of your solicitor in advance of your conveyancing in Cottesmore

My wife and I purchased a leasehold house in Cottesmore. Conveyancing and TSB mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Cottesmore 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 Cottesmore conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold property in Cottesmore. Am I liable to pay service charges for periods before my ownership?

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 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).

We expect to complete the disposal of our £250000 maisonette in Cottesmore next week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Cottesmore?

For most leasehold sales in Cottesmore conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Cottesmore
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Cottesmore leasehold premises is £350. For Cottesmore 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 required to provide the information.

Cottesmore Leasehold Conveyancing - Examples of Queries before Purchasing

The majority of Cottesmore leasehold apartments will be liable to pay a service charge for maintenance of the block set on behalf of the management company. If you acquire the property you will have to pay this liability, usually in instalments throughout the year. This may vary from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met yearly, ordinarily this is not a significant sum, say around £25-£75 but you need to enquire it because sometimes it could be surprisingly expensive. The best form of lease structure is if the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders have being in charge if their destiny and although a managing agent is usually employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you enquire if there is anything that is prohibited in the lease. For example it is fairly common in Cottesmore leases that pets are not allowed in certain buildings in Cottesmore. If you like the propertyin Cottesmore however your cat is not allowed to live with you then you will be presented with a hard determination.

Other Topics

Lease Extensions in Cottesmore