I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Stansted. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Stansted are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Stansted in which case you should be looking for a Stansted conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

I own a leasehold flat in Stansted. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Stansted 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 instruct a Stansted conveyancing solicitor to do this as it can be done on-line for a few pound. 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 flats in Stansted which have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I am a negotiator for a busy estate agency in Stansted where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Stansted conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

What advice can you give us when it comes to choosing a Stansted conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Stansted conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Stansted conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How many lease extensions have they completed in Stansted in the last twenty four months?

Stansted Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

The majority of Stansted leasehold apartments will incur a service charge for maintenance of the block levied on behalf of the management company. Where you acquire the property you will have to meet this amount, usually quarterly accross the year. This may vary from a few hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant amount, say around £50-£100 but you should to check it because sometimes it can be many hundreds of pounds. This information is important as a) areas can result in problems in the building as the common areas may start to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the running of the building you will need to have full disclosure How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in Stansted