I am on look out for some leasehold conveyancing in Ironbridge. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Ironbridge - 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 have just started marketing my garden apartment in Ironbridge.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

It best that you clear 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 unless 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.

Back In 2006, I bought a leasehold house in Ironbridge. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Ironbridge who previously acted has long since retired.Any advice?

First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ironbridge conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Ironbridge which have about forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Ironbridge is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 a residence 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 Ironbridge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Can you offer any advice when it comes to finding a Ironbridge conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Ironbridge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Ironbridge conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How many lease extensions has the firm completed in Ironbridge in the last 12 months?

Ironbridge Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

Are any of leasehold owners in arrears of their service charge payments? It is important to be aware if fixing the lift or some other major work is anticipated to be shared amongst the leasehold owners and will materially impact the level of the maintenance costs or require a one off payment. The majority of Ironbridge leasehold apartments will have a service bill for maintenance of the block set on behalf of the management company. If you purchase the flat you will have to pay this charge, normally periodically during the year. This may vary from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met annual, ordinarily this is not a significant figure, say approximately £50-£100 but you need to enquire it because sometimes it could be many hundreds of pounds.

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Lease Extensions in Ironbridge