Having had my offer accepted I require leasehold conveyancing in Newton Ferrers. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Newton Ferrers - 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 wish to let out my leasehold apartment in Newton Ferrers. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Newton Ferrers conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

My wife and I purchased a leasehold house in Newton Ferrers. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Newton Ferrers who previously acted has now retired.What should I do?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Newton Ferrers conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Newton Ferrers both have approximately 50 years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Newton Ferrers is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Newton Ferrers conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

What are your top tips when it comes to finding a Newton Ferrers conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Newton Ferrers conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Newton Ferrers conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?

Leasehold Conveyancing in Newton Ferrers - Examples of Queries before Purchasing

Plenty Newton Ferrers leasehold apartments will be liable to pay a service bill for maintenance of the building set on behalf of the freeholder. Should you purchase the flat you will have to pay this contribution, usually periodically throughout the year. This can differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge to be met yearly, ordinarily this is not a significant figure, say approximately £25-£75 but you should to enquire as sometimes it can be many hundreds of pounds. The answer will be important as a) areas may cause problems in the building as the common areas may begin to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will want to have complete disclosure The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this situation the tenants have being in charge if their destiny and even though a managing agent is often employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Newton Ferrers