I am on look out for some leasehold conveyancing in Mancot. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Mancot - 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.

Due to complete next month on a leasehold property in Mancot. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Mancot should include some of the following:

• Does the lease prevent you from letting out the flat, or working from home
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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
• Repair and maintenance of the flat
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am attracted to a couple of apartments in Mancot which have approximately 50 years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Mancot. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Mancot. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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).

I am a negotiator for a long established estate agent office in Mancot where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Mancot conveyancing firms. Can you clarify whether the owner of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Mancot - Examples of Queries Prior to Purchasing

Please inform me if there are any major works on the horizon that will add a premium to the maintenance costs? Best to be warned if changing the roof or some other major work is due shortly that will be shared by the leasehold owners and will materially impact the level of the maintenance charges or result in a one off payment.