I am in need of some leasehold conveyancing in Moreton. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Moreton - 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 just started marketing my garden apartment in Moreton.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Moreton. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Moreton ?

The majority of houses in Moreton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Moreton in which case you should be looking for a Moreton conveyancing practitioner and check that they have experience in transacting 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 at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.

I am looking at a couple of apartments in Moreton which have about forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Moreton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Moreton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £125000 garden flat in Moreton on Friday in a week. The freeholder has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Moreton?

Moreton conveyancing on leasehold flats more often than not requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

Moreton Leasehold Conveyancing - Examples of Queries Prior to buying

What is the annual service fee and ground rent? Are there any major works anticipated that could increase the maintenance costs? Best to be warned if window replacement or some other significant cost is due shortly to be shared between the leaseholders and will materially increase the the service charges or result in a specific invoice.

Other Topics

Lease Extensions in Moreton