Leasehold Conveyancing in Nag's Head - Get a Quote from the leasehold experts approved by your lender

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Questions and Answers: Nag's Head leasehold conveyancing

I am on look out for some leasehold conveyancing in Nag's Head. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Nag's Head - 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.

Expecting to complete next month on a garden flat in Nag's Head. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Nag's Head should include some of the following:

  • Defining your rights in respect of common areas in the block.For example, does the lease permit a right of way over an accessway or staircase?
  • Are pets allowed in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Nag's Head please ask your conveyancer in ahead of your conveyancing in Nag's Head

    • I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Nag's Head. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

    The majority of houses in Nag's Head 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. it is apparent that you are purchasing in Nag's Head in which case you should be shopping around for a Nag's Head conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.

    Last month I purchased a leasehold flat in Nag's Head. Do I have any liability for service charges relating to a period prior to my ownership?

    In a situation 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).

    What are your top tips when it comes to appointing a Nag's Head conveyancing practice to deal with our lease extension?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Nag's Head conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Nag's Head conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • If they are not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

    • Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Nag's Head. Can we issue an application to the Residential Property Tribunal Service?

    Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.

    An example of a Freehold Enfranchisement case for a Nag's Head flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 71 years.