Planning to exchange soon on a basement flat in Tibshelf. Conveyancing solicitors 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 Tibshelf should include some of the following:

• Defining your rights in relation to the communal areas in the block.By way of example, does the lease contain a right of way over an accessway or staircase?

Back In 2005, I bought a leasehold house in Tibshelf. Conveyancing and Platform Home Loans Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Tibshelf who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Tibshelf conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Tibshelf which have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Tibshelf. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold property in Tibshelf. Am I liable to pay service charges for periods before 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 ensure 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 the frequently found problems that you see in leases for Tibshelf properties?

Leasehold conveyancing in Tibshelf is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements 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

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I invested in buying a studio flat in Tibshelf, conveyancing formalities finalised 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Tibshelf with an extended lease are worth £220,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2097

With just 72 years left to run the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt 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.

Other Topics

Lease Extensions in Tibshelf