I am on look out for some leasehold conveyancing in Dorchester On Thames. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Dorchester On Thames - 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.

I am intending to let out my leasehold flat in Dorchester On Thames. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

The lease dictates relations between the freeholder and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Dorchester On Thames do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am looking at a two flats in Dorchester On Thames which have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Dorchester On Thames. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold flat in Dorchester On Thames. Do I have any liability for service charges for periods before my ownership?

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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 our sale of a £250000 maisonette in Dorchester On Thames on Tuesday in a week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Dorchester On Thames?

For the majority of leasehold sales in Dorchester On Thames conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange enquiries
• Where consent is required before sale in Dorchester On Thames
• Supplying insurance information
• 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 Dorchester On Thames leasehold premises is £350. For Dorchester On Thames 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 answers.

Dorchester On Thames Leasehold Conveyancing - A selection of Queries Prior to buying

Who are the managing agents? The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the lessees have control and notwithstanding that a managing agent is often retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. If a Dorchester On Thames lease has no more than 80 years it will affect the salability of the flat. It is worth checking with your mortgage company that they are happy with the length of the lease. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out what this would cost. For most Dorchester On Thameslease extensions you will be required to have been the owner of the residence for a couple of years before you are legally able to carry out a lease extension.

Other Topics

Lease Extensions in Dorchester On Thames