I am in need of some leasehold conveyancing in Mancot. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Mancot - then the leasehold title will always include the short particulars 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 today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Mancot. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Mancot ?

Most houses in Mancot are freehold rather than 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 clear that you are buying in Mancot in which case you should be looking for a Mancot conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

Back In 2006, I bought a leasehold house in Mancot. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Mancot who previously acted has now retired.What should I do?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Mancot conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Mancot. Am I liable to pay 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. 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).

Can you provide any advice for leasehold conveyancing in Mancot with the intention of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Mancot can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
• The majority freeholders or managing agents in Mancot levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding 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 Mancot.
• A minority of Mancot leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming process and slows down many a Mancot conveyancing transaction. If a reissued share is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I invested in buying a split level flat in Mancot, conveyancing having been completed 2009. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Mancot with an extended lease are worth £263,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2099

You have 73 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.