Having had my offer accepted I require leasehold conveyancing in Ponteland. 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 almost all are in Ponteland - 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.

Due to sign contracts shortly on a leasehold property in Ponteland. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

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

• You should be sent a copy of the lease

My wife and I purchased a leasehold flat in Ponteland. Conveyancing and TSB mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Ponteland who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Ponteland conveyancing firm 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Ponteland both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Ponteland is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 a residence 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 Ponteland conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

All being well we will complete the disposal of our £450000 flat in Ponteland in 8 days. The management company has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Ponteland?

Ponteland conveyancing on leasehold apartments more often than not involves the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to complete the sale of your home.

Ponteland Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Best to be warned if window replacement or some other significant cost is due in the near future to be shared amongst the leasehold owners and will materially increase the the service costs or result in a specific payment. Please inform me if there are any major works on the horizon that will likely increase the service costs? Who are the managing agents?

Other Topics

Lease Extensions in Ponteland