I am in need of some leasehold conveyancing in Gerrards Cross. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Gerrards Cross - then the leasehold title will always include the basic details 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 let out my leasehold flat in Gerrards Cross. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Gerrards Cross conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

I am looking at a two maisonettes in Gerrards Cross both have in the region of 50 years left on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold property in Gerrards Cross. Do I have any liability for service charges relating to a period prior to 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

We have reached the end of our tether in trying to reach an agreement for a lease extension in Gerrards Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?

in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.

An example of a Lease Extension case for a Gerrards Cross premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The the number of years remaining on the existing lease(s) was 71 years.

What are the common defects that you encounter in leases for Gerrards Cross properties?

Leasehold conveyancing in Gerrards Cross is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

Gerrards Cross Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing

You will want to discover as much as you can concerning the company managing the building as they can either make life much simpler or problematic. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the upkeep of the common parts. Don't be shy to ask prospective neighbours whether they are happy with their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes. Best to be warned whether fixing the lift or some other major work is due shortly to be shared by the leaseholders and will materially increase the the service fees or result in a one time invoice.