I am on look out for some leasehold conveyancing in Mapperley. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Mapperley - 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 am attracted to a two maisonettes in Mapperley which have approximately fifty years unexpired on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold house in Mapperley. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. 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 ensure 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 advice can you give us when it comes to appointing a Mapperley conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Mapperley conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Mapperley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• What volume of lease extensions have they completed in Mapperley in the last twenty four months?

We expect to complete our sale of a £400000 flat in Mapperley next week. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Mapperley?

Mapperley conveyancing on leasehold flats often requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

Mapperley Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

Best to be warned whether window replacement or some other significant cost is coming up to be shared by the leaseholders and will dramatically impact the level of the service costs or require a specific invoice. How long is the Lease? Does the lease have onerous restrictions?

Other Topics

Lease Extensions in Mapperley