Due to complete next month on a leasehold property in Darley Abbey. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the premises. This will be the flat itself but could also include a roof space or basement if applicable.
• Defining your legal entitlements in relation to common areas in the building.E.G., does the lease contain a right of way over a path or hallways?
• Will you be prohibited or prevented from having pets in the property?
• Does the lease prevent you from renting out the flat, or having a home office for business
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

Back In 2006, I bought a leasehold flat in Darley Abbey. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Darley Abbey who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Darley Abbey conveyancing firm to do this as you can do this on the Land Registry website 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 tempted by the attractive purchase price for a couple of flats in Darley Abbey which have about forty five years unexpired on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Darley Abbey conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Darley Abbey conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Darley Abbey conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the firm with lease extension legislation?
• If they are not ALEP accredited then why not?

Can you provide any top tips for leasehold conveyancing in Darley Abbey from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Darley Abbey can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
• The majority landlords or Management Companies in Darley Abbey levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Darley Abbey.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Darley Abbey leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you fail to have the consents to hand you should not contact the landlord without contacting your lawyer in advance.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a time consuming process and frustrates many a Darley Abbey conveyancing transaction. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Darley Abbey Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

How many years remain on the lease? The best form of lease structure is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed if it is bigger than a house conversion, the managing agent is directed by the tenants. What prohibitions are there in the Darley Abbey Lease?