Back In 2008, I bought a leasehold flat in Ormskirk. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Ormskirk who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Ormskirk conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two flats in Ormskirk which have approximately forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Ormskirk. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to choosing a Ormskirk conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Ormskirk conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Ormskirk conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?
• What volume of lease extensions have they carried out in Ormskirk in the last 12 months?

Do you have any advice for leasehold conveyancing in Ormskirk from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Ormskirk can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
• Many landlords or managing agents in Ormskirk charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought 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 cause of frustration in leasehold conveyancing in Ormskirk.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Ormskirk leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such alterations. If you dont have the approvals in place do not communicate with the landlord without contacting your conveyancer before hand.
• A minority of Ormskirk leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 solicitors.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

What makes a Ormskirk lease unmortgageable?

Leasehold conveyancing in Ormskirk is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations 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.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Mortgage Works, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Ormskirk - Sample of Questions you should ask Prior to Purchasing

What restrictions are contained in the Ormskirk Lease? Most Ormskirk leasehold properties will incur a service charge for the upkeep of the building invoiced on behalf of the landlord. Should you buy the flat you will have to pay this charge, normally quarterly throughout the year. This may vary from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay annual, this is usually not a significant figure, say around £25-£75 but you should to enquire it because on occasion it could be many hundreds of pounds.