I am on look out for some leasehold conveyancing in Rochester. Before I set the wheels in motion 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 Rochester - 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've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Rochester. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Rochester ?

The majority of houses in Rochester are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Rochester in which case you should be looking for a Rochester conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

Back In 2007, I bought a leasehold house in Rochester. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Rochester who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Rochester conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to choosing a Rochester conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Rochester conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Rochester conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

What makes a Rochester lease unacceptable for security purposes?

Leasehold conveyancing in Rochester is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• 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 encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

I invested in buying a leasehold flat in Rochester, conveyancing formalities finalised in 1997. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Rochester with an extended lease are worth £210,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2088

With only 63 years left to run we estimate the premium for your lease extension to be between £15,200 and £17,600 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Rochester