Having had my offer accepted I require leasehold conveyancing in Plymstock. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

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

The lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Plymstock do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to exchange soon on a leasehold property in Plymstock. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

I've recently bought a leasehold flat in Plymstock. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner 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. A critical element 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).

What are your top tips when it comes to appointing a Plymstock conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Plymstock conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Plymstock conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the firm with lease extension legislation?

Leasehold Conveyancing in Plymstock - Examples of Questions you should ask before buying

You should be aware if it is fewer than eighty years it will impact the marketability of the apartment. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. For most Plymstocklease extensions you would need to own the premises for two years in order to be eligible to extend the lease. You should want to discover as much as you can regarding the company managing the block as they will either make living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to every day issues such as the upkeep of the common parts. Ask other people whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. Who manages the building?

Other Topics

Lease Extensions in Plymstock