Having had my offer accepted I require leasehold conveyancing in Parson Cross. Before diving in I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Parson Cross - 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 am hoping to sign contracts shortly on a studio apartment in Parson Cross. Conveyancing solicitors assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Parson Cross should include some of the following:

• You should receive a copy of the lease

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Parson Cross. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Parson Cross ?

Most houses in Parson Cross are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Parson Cross so you should seriously consider shopping around for a Parson Cross conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I am a negotiator for a reputable estate agent office in Parson Cross where we see a few flat sales put at risk due to short leases. I have been given conflicting advice from local Parson Cross conveyancing solicitors. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

What advice can you give us when it comes to finding a Parson Cross conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Parson Cross conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Parson Cross conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If the firm is not ALEP accredited then why not?

Parson Cross Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Many Parson Cross leasehold flats will have a service charge for the upkeep of the building set on behalf of the management company. Should you acquire the flat you will have to meet this contribution, normally quarterly during the year. This could be anything from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge to be met yearly, this is usually not a large amount, say around £50-£100 but you need to enquire as sometimes it could be many hundreds of pounds. For many Parson Cross leaseholds the outlay for major works are not included within service charges, although a few managing agents in Parson Cross ask tenants to pay into a reserve fund and this is used to offset against major repairs or maintenance. Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Parson Cross