I am on look out for some leasehold conveyancing in Toton. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Toton - 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've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Toton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Toton ?

Most houses in Toton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Toton so you should seriously consider shopping around for a Toton conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

What advice can you give us when it comes to choosing a Toton conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Toton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Toton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

If the firm is not ALEP accredited then why not?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £350000 garden flat in Toton next week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Toton?

For the majority of leasehold sales in Toton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-exchange enquiries
• Where consent is required before sale in Toton
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Toton leasehold premises is £350. For Toton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

What makes a Toton lease unmortgageable?

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

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Skipton Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Toton Leasehold Conveyancing - Sample of Queries before Purchasing

Who takes responsibility for maintaining and repairing the building? Best to be warned whether changing the roof or some other major work is pending to be shared by the leasehold owners and may well dramatically increase the the maintenance charges or result in a one off payment. The prefered form of lease structure is a share of the freehold. In this scenario the leaseholders have being in charge if their destiny and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Toton