I am on look out for some leasehold conveyancing in East Bergholt. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in East Bergholt - 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 exchange soon on a basement flat in East Bergholt. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in East Bergholt should include some of the following:

• Do you need to have carpet in the flat or are you allowed wood flooring?

Ground rent - how much and when you need to pay, and also know whether this will change in the future

Changes to the flat (alterations and additions)

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

Responsibility for repairing the window frames

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in East Bergholt please enquire of your lawyer in advance of your conveyancing in East Bergholt

I am tempted by the attractive purchase price for a couple of apartments in East Bergholt which have about forty five years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in East Bergholt is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with East Bergholt conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 maisonette in East Bergholt next Wednesday . The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in East Bergholt?

East Bergholt conveyancing on leasehold maisonettes typically involves fees being raised by landlords agents :

• Addressing pre-exchange enquiries
• Where consent is required before sale in East Bergholt
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for East Bergholt leasehold premises is £350. For East Bergholt 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 obliged to provide answers.

Are there frequently found defects that you encounter in leases for East Bergholt properties?

There is nothing unique about leasehold conveyancing in East Bergholt. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• 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

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Barnsley Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

East Bergholt Leasehold Conveyancing - Examples of Questions you should ask before buying

Its a good idea to discover as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to practical matters such as the upkeep of the common parts. Ask other tenants what they think of their service. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. It would be wise to find out if the the lease includes any adverse restrictions in the lease. By way of example it is fairly common in East Bergholt leases that pets are not allowed in in a block in East Bergholt. If you love the propertyin East Bergholt yet your cat is not allowed to make the move with you then you will be presented with a hard choice. Is anyone aware of any major works in the near future that will add a premium to the maintenance fees?

Other Topics

Lease Extensions in East Bergholt