I am in need of some leasehold conveyancing in Disley. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Disley - then the leasehold title will always include the short particulars 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.

Back In 2005, I bought a leasehold house in Disley. Conveyancing and Godiva Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Disley who acted for me is not around.What should I do?

First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Disley conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of flats in Disley which have approximately fifty years remaining on the leases. should I be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

I've recently bought a leasehold house in Disley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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).

Are there frequently found problems that you witness in leases for Disley properties?

There is nothing unique about leasehold conveyancing in Disley. Most leases is drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

I purchased a leasehold flat in Disley, conveyancing formalities finalised in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Disley with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2092

With 66 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Disley