Having had my offer accepted I require leasehold conveyancing in Holme On Spalding Moor. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Holme On Spalding Moor - 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 have just started marketing my garden apartment in Holme On Spalding Moor.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?

The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a couple of apartments in Holme On Spalding Moor both have approximately 50 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 premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Holme On Spalding Moor. Am I liable to pay 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. 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).

What are your top tips when it comes to choosing a Holme On Spalding Moor conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Holme On Spalding Moor conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Holme On Spalding Moor conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• Can they put you in touch with client in Holme On Spalding Moor who can give a testimonial?

Holme On Spalding Moor Leasehold Conveyancing - Examples of Queries before Purchasing

Does the lease have more than 90 years left? How is the lease structured? Please note that where the lease has fewer than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are willing to to proceed 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. For most Holme On Spalding Moorlease extensions you will be required to have been the owner of the premises for a couple of years before you are legally able to carry out a lease extension.

Other Topics

Lease Extensions in Holme On Spalding Moor