Having had my offer accepted I require leasehold conveyancing in Martock. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Martock - 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 have recently realised that I have 62 years unexpired on my lease in Martock. I now wish to extend my lease but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be useful to conduct investigations and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Martock.

I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Martock. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Martock ?

Most houses in Martock are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Martock in which case you should be shopping around for a Martock conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. 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 solicitor should advise you fully on all the issues.

Last month I purchased a leasehold flat in Martock. 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 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. It is an essential part 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).

Are there common problems that you come across in leases for Martock properties?

There is nothing unique about leasehold conveyancing in Martock. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Skipton Building Society, and Nottingham Building Society all have very detailed 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 grant the mortgage, obliging the buyer to withdraw.

I invested in buying a 2 bed flat in Martock, conveyancing was carried out in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Martock with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2078

With just 53 years remaining on your lease we estimate the premium for your lease extension to range between £37,100 and £42,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending 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 tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Martock