Having had my offer accepted I require leasehold conveyancing in Hampden Pk. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Hampden Pk - 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 hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Hampden Pk. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Hampden Pk ?

Most houses in Hampden Pk are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hampden Pk in which case you should be shopping around for a Hampden Pk conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

I've recently bought a leasehold house in Hampden Pk. Am I liable to pay service charges for periods before my ownership?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

I am employed by a long established estate agent office in Hampden Pk where we have witnessed a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Hampden Pk conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 buyer 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 before, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

What makes a Hampden Pk lease unmortgageable?

There is nothing unique about leasehold conveyancing in Hampden Pk. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have 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. Santander, Virgin Money, and Britannia all have express requirements 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, obliging the buyer to withdraw.

I acquired a split level flat in Hampden Pk, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Hampden Pk with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2102

With 76 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.