I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Frampton Cotterell. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Frampton Cotterell ?

The majority of houses in Frampton Cotterell are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Frampton Cotterell so you should seriously consider shopping around for a Frampton Cotterell conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.

Back In 2008, I bought a leasehold flat in Frampton Cotterell. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Frampton Cotterell who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Frampton Cotterell conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two maisonettes in Frampton Cotterell which have in the region of 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

I work for a long established estate agency in Frampton Cotterell where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Frampton Cotterell conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

If all goes to plan we aim to complete the disposal of our £200000 maisonette in Frampton Cotterell in just under a week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Frampton Cotterell?

Frampton Cotterell conveyancing on leasehold flats more often than not involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to sell the property.

Leasehold Conveyancing in Frampton Cotterell - Examples of Questions you should ask Prior to Purchasing

Is the freehold owned collectively by the leaseholders? How much is the ground rent and service charge? Are there any major works anticipated that could add a premium to the service fees?

Other Topics

Lease Extensions in Frampton Cotterell