I am on look out for some leasehold conveyancing in Neston. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Neston - 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've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Neston. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Neston ?

The majority of houses in Neston are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Neston in which case you should be shopping around for a Neston conveyancing practitioner and check that they have experience in dealing with 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 freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Neston. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter 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 1993. The conveyancing solicitor in Neston who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Neston 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 freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Neston from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Neston can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• The majority freeholders or managing agents in Neston charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Neston.
• A minority of Neston leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Organising a re-issued share certificate is often a lengthy formality and slows down many a Neston home move. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Are there common defects that you encounter in leases for Neston properties?

There is nothing unique about leasehold conveyancing in Neston. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter 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. Lloyds TSB Bank, The Royal Bank of Scotland, 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 purchaser to withdraw.

I purchased a studio flat in Neston, conveyancing formalities finalised 2012. Can you work out an approximate cost of a lease extension? Comparable flats in Neston with a long lease are worth £267,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2102

With only 76 years left to run the likely cost is going to span between £12,400 and £14,200 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.