I am hoping to complete next month on a basement flat in Cromer. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Cromer 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 have just started marketing my garden flat in Cromer.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Cromer. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Cromer ?

The majority of houses in Cromer are freehold rather than 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 Cromer in which case you should be shopping around for a Cromer conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Cromer. Conveyancing and Godiva Mortgages Ltd 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 demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Cromer who previously acted has long since retired.Any advice?

First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Cromer conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Cromer which have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

Cromer Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

It is important to be aware if a new roof is being installed or some other major work is anticipated to be shared amongst the leaseholders and could well dramatically increase the the maintenance charges or result in a one off invoice. The answer will be helpful as a) areas may result in problems for the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the running of the building you will want to have complete disclosure Please note that where the lease has fewer than eighty years it will affect the marketability of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and you need to have some idea of what this will be. For most Cromerlease extensions you would need to own the property for two years before you are entitled to extend the lease.

Other Topics

Lease Extensions in Cromer