I am in need of some leasehold conveyancing in Prescot. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Prescot - 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.

There are only Seventy years unexpired on my lease in Prescot. I now wish to get lease extension but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the freeholder. On the whole an enquiry agent should be helpful to carry out a search and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Prescot.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Prescot. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Prescot are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Prescot so you should seriously consider looking for a Prescot conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.

Can you offer any advice when it comes to choosing a Prescot conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Prescot conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Prescot conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

What makes a Prescot lease unacceptable for security purposes?

Leasehold conveyancing in Prescot is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Leasehold Conveyancing in Prescot - A selection of Questions you should consider before buying

Is the freehold reversion owned jointly by the tenants? The best form of lease arrangement is a share of the freehold. In this scenario the tenants have being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. How many of the leaseholders are in arrears for their service charge payments?

Other Topics

Lease Extensions in Prescot