I am in need of some leasehold conveyancing in Harrold. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Harrold - 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.

Jane (my partner) and I may need to rent out our Harrold 1st floor flat for a while due to a career opportunity. We instructed a Harrold conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Harrold do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am looking at a two apartments in Harrold which have approximately fifty years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Harrold. The lease is a right to use the property for a period of time. As the lease shortens the value of the lease decreases and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

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

Where the service charge has already been demanded from the previous lessee 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).

When it comes to leasehold conveyancing in Harrold what are the most frequent lease defects?

Leasehold conveyancing in Harrold is not unique. All leases is drafted differently 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 property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Bank of Scotland, and Barclays Direct 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 defective they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Harrold - Sample of Queries before Purchasing

How many of the leaseholders are in arrears for their service charge payments? On the whole the cost for major works tend not to be wrapped into the maintenance charges, although some managing agents in Harrold obliged leaseholders to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance. This question is useful as a) areas could result in problems in the building as the common areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have all the details