I am in need of some leasehold conveyancing in Fleetwood. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Fleetwood - 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 would like to sublet my leasehold flat in Fleetwood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Fleetwood do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I own a leasehold house in Fleetwood. Conveyancing and Aldermore mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Fleetwood who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Fleetwood conveyancing practitioner to do this as it can be done on-line for £3. 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.

I am looking at a couple of flats in Fleetwood which have in the region of 50 years left on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. 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 seek professional help from a solicitor and surveyor with experience in this area

What makes a Fleetwood lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Fleetwood. All leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• 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.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Fleetwood - A selection of Questions you should ask Prior to Purchasing

How many years remain on the lease? It would be sensible to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical matters like the upkeep of the communal areas. You should not be shy to ask other tenants whether they are happy with their service. On a final note, investigate as to the dates that the service fees are due to the relevant party and precisely what you get for your money. Is there a share of the freehold?

Other Topics

Lease Extensions in Fleetwood