Looking forward to sign contracts shortly on a garden flat in Stanley. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Stanley should include some of the following:

• The total extent of the premises. This will be the flat itself but could also include a loft or cellar if appropriate.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Stanley. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stanley ?

The majority of houses in Stanley are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Stanley so you should seriously consider shopping around for a Stanley conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

Back In 2005, I bought a leasehold house in Stanley. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Stanley who previously acted has long since retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Stanley conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Stanley which have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not 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 advise that you get professional assistance from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold flat in Stanley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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).

I acquired a 2 bed flat in Stanley, conveyancing having been completed 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Stanley with an extended lease are worth £245,000. The ground rent is £45 per annum. The lease expires on 21st October 2074

You have 50 years remaining on your lease we estimate the price of your lease extension to be between £35,200 and £40,600 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Stanley