I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in St Margarets. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in St Margarets are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in St Margarets so you should seriously consider looking for a St Margarets conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in St Margarets. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in St Margarets who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a St Margarets conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in St Margarets both have about 50 years remaining on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in St Margarets from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in St Margarets can be reduced if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
• The majority freeholders or managing agents in St Margarets charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in St Margarets.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
• If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a new share certificate can be a lengthy process and frustrates many a St Margarets home move. If a new share is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in St Margarets. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the price payable.

An example of a Lease Extension matter before the tribunal for a St Margarets property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired lease term was 60.45 years.

In relation to leasehold conveyancing in St Margarets what are the most common lease problems?

There is nothing unique about leasehold conveyancing in St Margarets. All leases is drafted differently and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• 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 have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

St Margarets Leasehold Conveyancing - A selection of Queries before Purchasing

Can you tell me if there are any major works in the planning that will likely increase the maintenance fees? Is there a share of the freehold?