I am in need of some leasehold conveyancing in Langstone. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Langstone - 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.

Due to sign contracts shortly on a ground floor flat in Langstone. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Setting out your rights in relation to common areas in the building.E.G., does the lease include a right of way over a path or hallways?

I have just started marketing my ground floor apartment in Langstone.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?

It best that you discharge the service charge 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 managing agents will not acknowledge the buyer until 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.

I've recently bought a leasehold property in Langstone. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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).

When it comes to leasehold conveyancing in Langstone what are the most frequent lease defects?

Leasehold conveyancing in Langstone is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• 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

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Langstone Leasehold Conveyancing - Sample of Queries before Purchasing

This information is important as a) areas can result in problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to know about it How many of the leaseholders are in arrears for their service charge payments? In the main the cost for major works are not incorporated into the maintenance charges, although there some managing agents in Langstone require tenants to contribute towards a sinking fund created for the specific intention of building a fund for larger works.

Other Topics

Lease Extensions in Langstone