I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Kirkby Stephen. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Kirkby Stephen ?

The majority of houses in Kirkby Stephen are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Kirkby Stephen in which case you should be shopping around for a Kirkby Stephen conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.

Back In 2006, I bought a leasehold flat in Kirkby Stephen. Conveyancing and Bank of Ireland mortgage are in place. 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 1993. The conveyancing practitioner in Kirkby Stephen who previously acted has now retired.What should I do?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Kirkby Stephen conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Kirkby Stephen both have in the region of 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Kirkby Stephen is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. The majority of purchasers and mortgage companies, 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 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 Kirkby Stephen 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 the agreed 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.

I've recently bought a leasehold house in Kirkby Stephen. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. 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).

We expect to complete the sale of our £225000 flat in Kirkby Stephen next week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kirkby Stephen?

For most leasehold sales in Kirkby Stephen conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Kirkby Stephen
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Kirkby Stephen leasehold premises is £350. For Kirkby Stephen conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I am the registered owner of a 1st floor flat in Kirkby Stephen, conveyancing having been completed in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Kirkby Stephen with a long lease are worth £223,000. The ground rent is £45 yearly. The lease ends on 21st October 2092

With only 67 years unexpired we estimate the price of your lease extension to range between £15,200 and £17,600 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

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Lease Extensions in Kirkby Stephen