Looking forward to exchange soon on a ground floor flat in Melton Mowbray. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Melton Mowbray should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Melton Mowbray. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Melton Mowbray ?

Most houses in Melton Mowbray are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Melton Mowbray in which case you should be shopping around for a Melton Mowbray conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.

Last month I purchased a leasehold house in Melton Mowbray. Do I have any liability for 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. However, 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).

I am a negotiator for a busy estate agency in Melton Mowbray where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Melton Mowbray conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

What are your top tips when it comes to finding a Melton Mowbray conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Melton Mowbray conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Melton Mowbray conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• Can they put you in touch with client in Melton Mowbray who can give a testimonial?

Melton Mowbray Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

For many Melton Mowbray leaseholds the outlay for major works are not wrapped into the maintenance charges, albeit that there some managing agents in Melton Mowbray require tenants to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. This question is helpful as a) areas can result in problems in the block as the common areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the managing agents you will need to know about it Who are the managing agents?

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Lease Extensions in Melton Mowbray