Frequently asked questions relating to Durham leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Durham. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Durham - 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.
Due to complete next month on a garden flat in Durham. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Durham should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Durham. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Durham 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 clear that you are buying in Durham in which case you should be shopping around for a Durham conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I own a leasehold flat in Durham. Conveyancing and Accord Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Durham who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Durham conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Durham. Am I liable to pay service charges for periods before completion of my purchase?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Durham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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If a Durham lease has fewer than eighty years it will have adverse implications on the marketability of the flat. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of how much this will be. For most Durhamlease extensions you would need to own the residence for two years before you are eligible to extend the lease.
You will want to find out as much as you can concerning the company managing the block as they can either make living at the property much easier or a lot more difficult. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical issues such as the tidiness of the communal areas. Enquire of prospective neighbours what they think of their management. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what it includes.
Make sure you enquire if there are any onerous prohibitions in the lease. For example it is fairly common in Durham leases that pets are not permitted in in a block in Durham. If you love the propertyin Durham but your cat can’t make the move with you then you will be faced hard decision.
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