Having had my offer accepted I require leasehold conveyancing in Stroud. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

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

I am hoping to complete next month on a basement flat in Stroud. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

I am attracted to a two apartments in Stroud both have in the region of 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 premises for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £375000 flat in Stroud on Monday in a week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Stroud?

Stroud conveyancing on leasehold maisonettes more often than not requires the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

What makes a Stroud lease defective?

Leasehold conveyancing in Stroud is not unique. Most leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Chelsea Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Stroud - A selection of Queries Prior to Purchasing

This question is useful as a) areas may cause problems for the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the managing agents you will want to have complete disclosure How much is the ground rent and service charge? How many years are left on the lease?

Other Topics

Lease Extensions in Stroud