I am on look out for some leasehold conveyancing in Crofton Park. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Crofton Park - then the leasehold title will always include the basic details 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Crofton Park. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Crofton Park ?

Most houses in Crofton Park are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Crofton Park in which case you should be shopping around for a Crofton Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a two maisonettes in Crofton Park both have approximately fifty years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Crofton Park is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive 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 Crofton Park 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 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 flat in Crofton Park. 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 lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 disposal of our £ 425000 maisonette in Crofton Park on Wednesday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Crofton Park?

Crofton Park conveyancing on leasehold maisonettes typically necessitates administration charges levied by landlords agents :

• Answering pre-contract questions
• Where consent is required before sale in Crofton Park
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Crofton Park leasehold premises is £350. For Crofton Park 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 provide the information.

I own a garden flat in Crofton Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

You certainly can. We can put you in touch with a Crofton Park conveyancing firm who can help.

An example of a Lease Extension case for a Crofton Park property is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case related to 1 flat.

Crofton Park Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

It would be prudent to find out as much as possible concerning the managing agents as they can either make your life much easier or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the common parts. Enquire of other tenants whether they are happy with them. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically what it includes. The answer will be useful as a) areas could result in problems in the building as the common areas may begin to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the managing agents you will wish to have all the details Is there a share of the freehold?