Having had my offer accepted I require leasehold conveyancing in Maulden. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Maulden - 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.

Planning to sign contracts shortly on a studio apartment in Maulden. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Maulden. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Maulden ?

The majority of houses in Maulden are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Maulden so you should seriously consider looking for a Maulden conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant 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 changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I am employed by a long established estate agent office in Maulden where we see a number of leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Maulden conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. 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.

An alternative approach is 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 purchaser.

Are there frequently found defects that you encounter in leases for Maulden properties?

Leasehold conveyancing in Maulden is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Bank of Ireland 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 is defective they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Maulden - A selection of Questions you should consider before Purchasing

Does the lease contain onerous restrictions? Can you inform me if there are any major works on the horizon that will likely increase the maintenance charges? It would be a good idea to investigate if there is anything that is prohibited in the lease. By way of example it is fairly common in Maulden leases that pets are not permitted in certain buildings in Maulden. If you like the apartmentin Maulden yet your cat is not allowed to make the move with you then you will be presented with a difficult decision.

Other Topics

Lease Extensions in Maulden