Due to exchange soon on a studio apartment in Tetbury. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years

My wife and I purchased a leasehold flat in Tetbury. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Tetbury who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Tetbury conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold house in Tetbury. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. A critical element 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).

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 apartment in Tetbury next Friday . The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Tetbury?

Tetbury conveyancing on leasehold flats normally involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.

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

There is nothing unique about leasehold conveyancing in Tetbury. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Chelsea Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I inherited a 1st floor flat in Tetbury, conveyancing formalities finalised in 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Tetbury with over 90 years remaining are worth £185,000. The ground rent is £55 yearly. The lease ceases on 21st October 2096

With just 71 years unexpired we estimate the premium for your lease extension to be between £12,400 and £14,200 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Tetbury