Having had my offer accepted I require leasehold conveyancing in Silverton. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Silverton - 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.

Expecting to complete next month on a studio apartment in Silverton. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the demise. This will be the flat itself but could also incorporate a loft or cellar if applicable.
• Defining your rights in relation to common areas in the block.E.G., does the lease grant a right of way over an accessway or staircase?
• You should be told what constitutes a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am attracted to a couple of flats in Silverton both have about 50 years unexpired on the leases. should I be concerned?

There are plenty of short leases in Silverton. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

What are your top tips when it comes to appointing a Silverton conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Silverton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Silverton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?
• Can they put you in touch with client in Silverton who can give a testimonial?

In relation to leasehold conveyancing in Silverton what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Silverton. All leases are unique and drafting errors can result in certain clauses are not included. 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

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Barnsley Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

Silverton Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

What is the length of the lease?