Having had my offer accepted I require leasehold conveyancing in Repton. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Repton - 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.

I wish to let out my leasehold flat in Repton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Repton conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person prior to subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Due to complete next month on a studio apartment in Repton. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

• You should be sent a copy of the lease

I am employed by a long established estate agency in Repton where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Repton conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 disposal of the property.

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.

What are the frequently found deficiencies that you come across in leases for Repton properties?

There is nothing unique about leasehold conveyancing in Repton. All leases are individual and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Leasehold Conveyancing in Repton - Examples of Questions you should consider Prior to buying

It is important to be aware if changing the roof or some other significant cost is due in the near future to be shared amongst the leasehold owners and will materially impact the level of the maintenance charges or require a one off invoice. Please note that where the lease has less than eighty years it will impact the salability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Reptonlease extensions you would need to own the property for a couple of years in order to be entitled to extend the lease. The answer will be helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will wish to know about it

Other Topics

Lease Extensions in Repton