Having had my offer accepted I require leasehold conveyancing in Heathfield. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Heathfield - 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've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Heathfield. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Heathfield ?

Most houses in Heathfield are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Heathfield in which case you should be looking for a Heathfield conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee 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. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.

I am looking at a two flats in Heathfield both have in the region of 50 years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Heathfield is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Heathfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold flat in Heathfield. Am I liable to pay service charges for periods before completion of my purchase?

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. 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).

I work for a busy estate agency in Heathfield where we see a few flat sales jeopardised due to short leases. I have received conflicting advice from local Heathfield conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

I acquired a ground floor flat in Heathfield, conveyancing having been completed 2003. Can you work out an approximate cost of a lease extension? Comparable properties in Heathfield with an extended lease are worth £259,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2083

With 57 years remaining on your lease the likely cost is going to be between £24,700 and £28,600 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.