I am in need of some leasehold conveyancing in Sacriston. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Sacriston - 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.

Helen (my wife) and I may need to sub-let our Sacriston basement flat for a while due to a new job. We used a Sacriston conveyancing firm in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

The lease governs the relationship between the freeholder and you the flat owner; in particular, 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. The majority of leases in Sacriston do not prevent subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Sacriston. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Sacriston ?

The majority of houses in Sacriston are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Sacriston in which case you should be shopping around for a Sacriston conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am looking at a couple of maisonettes in Sacriston which have approximately forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Sacriston is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Sacriston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

Last month I purchased a leasehold flat in Sacriston. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Sacriston Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

This information is important as a) areas may cause problems for the building as the communal areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will wish to know about it Make sure you discover if there is anything that is prohibited in the lease. By way of example it is very common in Sacriston leases that pets are not allowed in in a block in Sacriston. If you like the flatin Sacriston however your cat is not allowed to make the move with you then you will be presented with a difficult decision. It is important to be aware whether fixing the lift or some other major work is due shortly that will be shared between the leaseholders and could well dramatically impact the level of the service costs or require a specific payment.

Other Topics

Lease Extensions in Sacriston