Having had my offer accepted I require leasehold conveyancing in Mortimer. Before I set the wheels in motion I want to be sure as to the remaining lease term.

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

I am hoping to exchange soon on a garden flat in Mortimer. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?

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

• You should be sent a copy of the lease

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Mortimer. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Mortimer ?

The majority of houses in Mortimer are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Mortimer in which case you should be shopping around for a Mortimer conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I am attracted to a two flats in Mortimer which have in the region of fifty years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Mortimer is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and banks, leases with under eighty years become less and less attractive. 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 Mortimer 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.

Can you offer any advice when it comes to choosing a Mortimer conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Mortimer conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Mortimer conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

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

Mortimer Conveyancing for Leasehold Flats - A selection of Queries before buying

Make sure you find out if there are any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Mortimer. If you like the flatin Mortimer but your dog can’t make the move with you then you will be presented with a difficult decision. Generally speaking the cost for major works are not included within maintenance charges, albeit that there some managing agents in Mortimer obliged tenants to pay into a reserve fund created for the specific purpose of establishing a fund for major works. The answer will be useful as a) areas can cause problems in the block as the common areas may start to deteriorate where repairs remain unpaid b) if the tenants have an issue with the running of the building you will need to have all the details

Other Topics

Lease Extensions in Mortimer