I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Morganstown. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Morganstown ?

The majority of houses in Morganstown are freehold and not 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 clear that you are buying in Morganstown in which case you should be shopping around for a Morganstown conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

I own a leasehold flat in Morganstown. Conveyancing and Skipton Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Morganstown who acted for me is not around.Any advice?

First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Morganstown conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Morganstown from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Morganstown can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
• Many landlords or Management Companies in Morganstown charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Morganstown.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Morganstown state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such works. If you dont have the paperwork in place do not contact the landlord without contacting your conveyancer before hand.
• If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate can be a time consuming formality and frustrates many a Morganstown home move. If a new share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Completion in due on the sale of our £ 375000 flat in Morganstown next Tuesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Morganstown?

Morganstown conveyancing on leasehold maisonettes usually requires the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. 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 invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to sell the property.

What are the common deficiencies that you see in leases for Morganstown properties?

Leasehold conveyancing in Morganstown is not unique. All leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• 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

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

I own a 2 bed flat in Morganstown, conveyancing was carried out 1995. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Morganstown with an extended lease are worth £233,000. The ground rent is £65 yearly. The lease ends on 21st October 2093

With only 67 years remaining on your lease the likely cost is going to be between £15,200 and £17,600 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to 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.