I am hoping to put an offer on a small detached house that appears to be perfect, at a great 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 issues purchasing a house with a leasehold title in South Petherton. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in South Petherton ?

The majority of houses in South Petherton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in South Petherton so you should seriously consider looking for a South Petherton conveyancing solicitor and check 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 leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I own a leasehold house in South Petherton. Conveyancing and TSB mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in South Petherton who previously acted has now retired.Any advice?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a South Petherton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in South Petherton both have about fifty years unexpired on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

I work for a long established estate agency in South Petherton where we have witnessed a few flat sales derailed due to short leases. I have received contradictory information from local South Petherton conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has owned the lease 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 proposed purchaser need not have to wait 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 sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

If all goes to plan we aim to complete our sale of a £275000 apartment in South Petherton next Friday . The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in South Petherton?

South Petherton conveyancing on leasehold maisonettes normally necessitates fees being levied by managing agents :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in South Petherton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for South Petherton leasehold property is £350. For South Petherton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I invested in buying a 1st floor flat in South Petherton, conveyancing having been completed in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in South Petherton with a long lease are worth £211,000. The ground rent is £50 yearly. The lease ceases on 21st October 2101

With just 76 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in South Petherton