I am in need of some leasehold conveyancing in Great Dunmow. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Great Dunmow - 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 am hoping to sign contracts shortly on a garden flat in Great Dunmow. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Great Dunmow should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Does the lease require carpeting throughout thus preventing wood flooring?

Does the lease prevent you from letting out the flat, or working from home

Repair and maintenance of the flat

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

What options are open to you if a neighbour is in violation of a provision in their lease?

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Great Dunmow please ask your solicitor in ahead of your conveyancing in Great Dunmow

I am tempted by the attractive purchase price for a couple of apartments in Great Dunmow both have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Great Dunmow. 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. It is an essential part 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).

If all goes to plan we aim to complete the sale of our £375000 apartment in Great Dunmow on Friday in a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Great Dunmow?

Great Dunmow conveyancing on leasehold flats typically results in fees being invoiced by freeholders :

• Completing pre-contract questions
• Where consent is required before sale in Great Dunmow
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Great Dunmow leasehold premises is £350. For Great Dunmow 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 provide the information.

Great Dunmow Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

Are any of leasehold owners in arrears of their service charge payments? Plenty Great Dunmow leasehold properties will be liable to pay a service charge for maintenance of the building levied by the landlord. Where you acquire the flat you will have to meet this contribution, usually periodically during the year. This can differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent for you to pay annual, normally this is not a significant sum, say about £50-£100 but you need to enquire as occasionally it could be surprisingly expensive. You should be aware if it is fewer than eighty years it will impact the salability of the flat. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have owned the residence for two years before you are legally able to extend the lease.

Other Topics

Lease Extensions in Great Dunmow