I am on look out for some leasehold conveyancing in Lancaster. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Lancaster - 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’m about to sell my basement flat in Lancaster.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two flats in Lancaster both have in the region of forty five years left on the lease term. 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 a lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you offer any advice when it comes to choosing a Lancaster conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Lancaster conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Lancaster conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?

How many lease extensions have they completed in Lancaster in the last year?

All being well we will complete our sale of a £200000 flat in Lancaster in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Lancaster?

For most leasehold sales in Lancaster 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 Lancaster
• Supplying insurance information
• 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 Lancaster leasehold property is £350. For Lancaster 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 obliged to supply answers.

Leasehold Conveyancing in Lancaster - A selection of Questions you should consider Prior to buying

Make sure you discover if the the lease includes any unreasonable restrictions in the lease. For example some leases prohibit pets being permitted in certain buildings in Lancaster. If you like the apartmentin Lancaster yet your dog can’t make the move with you then you will be faced difficult decision. The answer will be useful as a) areas may cause problems in the building as the common areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have full disclosure The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this situation the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Lancaster