I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Little Burstead. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Little Burstead ?

Most houses in Little Burstead are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Little Burstead in which case you should be shopping around for a Little Burstead conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

I own a leasehold flat in Little Burstead. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received 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 1991. The conveyancing practitioner in Little Burstead who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Little Burstead conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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 two maisonettes in Little Burstead which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Little Burstead is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and banks, 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 property 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 property 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 Little Burstead 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Can you offer any advice when it comes to finding a Little Burstead conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Little Burstead 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 Little Burstead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they carried out in Little Burstead in the last 12 months?

Completion in due on our sale of a £450000 garden flat in Little Burstead in 5 days. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Little Burstead?

Little Burstead conveyancing on leasehold apartments normally necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.

Little Burstead Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

For most Little Burstead leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Little Burstead require leaseholders to contribute towards a sinking fund and this is used to offset against larger works. Are there any major works in the planning that could increase the service charges? How much is the ground rent and service charge?

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Lease Extensions in Little Burstead