Having had my offer accepted I require leasehold conveyancing in Thatcham. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Thatcham - then the leasehold title will always include the basic details 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 have just started marketing my basement flat in Thatcham.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Thatcham. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Thatcham ?

Most houses in Thatcham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Thatcham in which case you should be looking for a Thatcham conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I've recently bought a leasehold flat in Thatcham. 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 lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

What are your top tips when it comes to finding a Thatcham conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Thatcham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Thatcham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?

Thatcham Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

You should be aware if it is less than 80 years it will impact the marketability of the apartment. It is worth checking with your lender that they are happy with remaining years on the lease. A short lease means that you will probably have to extend the lease at some point and it is worth discovering how much this would cost. Remember, in most cases you will be be obliged to have owned the property for 24 months before you are entitled to carry out a lease extension. Is there a share of the freehold? Many Thatcham leasehold apartments will have a service bill for the upkeep of the building levied on behalf of the landlord. Should you acquire the flat you will have to pay this charge, usually quarterly throughout the year. This could vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant figure, say around £50-£100 but you should to enquire as occasionally it could be many hundreds of pounds.

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Lease Extensions in Thatcham