Having had my offer accepted I require leasehold conveyancing in Grasmere. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Grasmere - 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 am attracted to a two maisonettes in Grasmere both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold flat in Grasmere. Do I have any liability for service charges relating to a period prior to my ownership?

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. 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).

If all goes to plan we aim to complete the disposal of our £225000 flat in Grasmere on Friday in a week. The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Grasmere?

For the majority of leasehold sales in Grasmere conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

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

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Grasmere leasehold premises is £350. For Grasmere 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 supply answers.

What makes a Grasmere lease unmortgageable?

Leasehold conveyancing in Grasmere is not unique. All leases is drafted differently and drafting errors 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 may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Aldermore all have very detailed conveyancing instructions 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 purchaser to withdraw.

Grasmere Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

How is the lease structured? What is the name of the managing agents? Best to be warned whether fixing the lift or some other major work is coming up to be shared by the tenants and may well dramatically increase the the service charges or result in a one time payment.

Other Topics

Lease Extensions in Grasmere