Having had my offer accepted I require leasehold conveyancing in Kirkby Lonsdale. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Kirkby Lonsdale - 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.

Planning to sign contracts shortly on a ground floor flat in Kirkby Lonsdale. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Kirkby Lonsdale should include some of the following:

• The total extent of the demise. This will be the flat itself but could also incorporate a loft or cellar if applicable.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Kirkby Lonsdale. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Kirkby Lonsdale ?

The majority of houses in Kirkby Lonsdale are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Kirkby Lonsdale so you should seriously consider shopping around for a Kirkby Lonsdale conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I am looking at a two apartments in Kirkby Lonsdale both have about 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 period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive 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 as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

What makes a Kirkby Lonsdale lease defective?

There is nothing unique about leasehold conveyancing in Kirkby Lonsdale. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Skipton Building Society, and Alliance & Leicester all have express conveyancing instructions 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 provide security, obliging the purchaser to pull out.

I inherited a leasehold flat in Kirkby Lonsdale, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Kirkby Lonsdale with a long lease are worth £251,000. The ground rent is £60 yearly. The lease finishes on 21st October 2099

With only 74 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Kirkby Lonsdale