I am on look out for some leasehold conveyancing in Ormskirk. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Ormskirk - 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.

Back In 2003, I bought a leasehold house in Ormskirk. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Ormskirk who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Ormskirk conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note 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 attracted to a couple of maisonettes in Ormskirk which have approximately forty five years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Ormskirk. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold flat in Ormskirk. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. However, 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 be sure 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).

I am a negotiator for a busy estate agency in Ormskirk where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Ormskirk conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Ormskirk Leasehold Conveyancing - Examples of Queries Prior to buying

It would be wise to find out as much as you can about the company managing the block as they will either make your living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the upkeep of the communal areas. Ask other tenants if they are happy with their management. Finally, be sure you understand the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money. The prefered form of lease arrangement is a share of the freehold. In this scenario the tenants have control and although a managing agent is frequently employed where it is bigger than a house conversion, the managing agent is directed by the tenants. How much is the ground rent and service charge?

Other Topics

Lease Extensions in Ormskirk