I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Easton. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Easton are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Easton so you should seriously consider looking for a Easton conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Easton which have about fifty years remaining on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is 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 protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold house in Easton. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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).

What advice can you give us when it comes to finding a Easton conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Easton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Easton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How many lease extensions has the firm completed in Easton in the last year?
• What are the charges for lease extension conveyancing?

Can you provide any top tips for leasehold conveyancing in Easton with the aim of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Easton can be reduced where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
• The majority landlords or managing agents in Easton levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Easton.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Easton state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor in the first instance.
• If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and slows down many a Easton home move. If a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Easton Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

What restrictions exist in the Easton Lease? It would be a good idea to investigate if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in in a block in Easton. If you love the propertyin Easton but your cat can’t live with you then you have a very difficult determination.