Expecting to sign contracts shortly on a leasehold property in Kirkby Stephen. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Kirkby Stephen. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Kirkby Stephen ?

Most houses in Kirkby Stephen are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Kirkby Stephen in which case you should be looking for a Kirkby Stephen conveyancing solicitor and be sure 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 lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

Last month I purchased a leasehold flat in Kirkby Stephen. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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).

Can you offer any advice when it comes to appointing a Kirkby Stephen conveyancing firm to deal with our lease extension?

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

• If the firm is not ALEP accredited then what is the reason?

Are there common defects that you witness in leases for Kirkby Stephen properties?

There is nothing unique about leasehold conveyancing in Kirkby Stephen. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

Kirkby Stephen Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

Its a good idea to discover as much as possible regarding the company managing the block as they will either make living at the property much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the common parts. Don't be afraid to ask other people if they are happy with them. In conclusion, investigate as to the dates that the service charges are due to the relevant party and precisely how they are spending the funds. The answer will be important as a) areas can cause problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the tenants have a dispute with the running of the building you will need to have complete disclosure Make sure you investigate if there are any onerous prohibitions in the lease. For instance it is fairly common in Kirkby Stephen leases that pets are not allowed in in a block in Kirkby Stephen. If you love the apartmentin Kirkby Stephen yet your dog is not allowed to live with you then you have a very hard determination.

Other Topics

Lease Extensions in Kirkby Stephen