Having had my offer accepted I require leasehold conveyancing in Newbury. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Newbury - 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 today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Newbury. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Newbury ?

The majority of houses in Newbury are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Newbury in which case you should be looking for a Newbury conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

Back In 2000, I bought a leasehold flat in Newbury. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Newbury who previously acted has now retired.Any advice?

First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Newbury conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Newbury both have approximately fifty years left on the leases. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Newbury. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

Leasehold Conveyancing in Newbury - Examples of Queries before buying

How many of the leaseholders are in arrears for their service charge payments? Where a Newbury lease has fewer than 80 years it will impact the marketability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have owned the property for 24 months in order to be legally able to carry out a lease extension.