I am in need of some leasehold conveyancing in Southborough. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Southborough - 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.

Estate agents have just been given the go-ahead to market my garden flat in Southborough.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?

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

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Southborough. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Southborough are freehold rather than 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 clear that you are purchasing in Southborough so you should seriously consider looking for a Southborough conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I am attracted to a couple of flats in Southborough both have approximately 50 years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Southborough. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We can put you in touch with a Southborough conveyancing firm who can help.

An example of a Lease Extension case for a Southborough residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The the unexpired residue of the current lease was 50.57 years.

What makes a Southborough lease defective?

Leasehold conveyancing in Southborough is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• 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 will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

I purchased a garden flat in Southborough, conveyancing formalities finalised 2005. Can you work out an approximate cost of a lease extension? Equivalent properties in Southborough with a long lease are worth £211,000. The ground rent is £60 yearly. The lease finishes on 21st October 2086

With just 60 years remaining on your lease the likely cost is going to range between £21,900 and £25,200 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.