Looking forward to exchange soon on a garden flat in Moor Row. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

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

• You should receive a copy of the lease

Back In 2004, I bought a leasehold flat in Moor Row. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Moor Row who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Moor Row conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Moor Row. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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).

I am a negotiator for a busy estate agent office in Moor Row where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Moor Row conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension process for the buyer?

Provided that 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 need not have 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 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.

In relation to leasehold conveyancing in Moor Row what are the most frequent lease defects?

Leasehold conveyancing in Moor Row is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Aldermore 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 grant the mortgage, forcing the buyer to withdraw.

I inherited a ground floor flat in Moor Row, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Moor Row with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2104

With 79 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Moor Row