I am in need of some leasehold conveyancing in Westbury On Trym. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Westbury On Trym - 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 put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Westbury On Trym. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Westbury On Trym ?

The majority of houses in Westbury On Trym are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Westbury On Trym in which case you should be shopping around for a Westbury On Trym conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.

I am looking at a couple of apartments in Westbury On Trym which have about 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Westbury On Trym. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Westbury On Trym. Am I liable to pay service charges for periods before my ownership?

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. A critical element 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 advice can you give us when it comes to choosing a Westbury On Trym conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Westbury On Trym conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Westbury On Trym conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• What volume of lease extensions has the firm completed in Westbury On Trym in the last 12 months?

Leasehold Conveyancing in Westbury On Trym - Examples of Questions you should ask Prior to Purchasing

Please note that where the lease has fewer than eighty years it will affect the marketability of the property. Check with your bank that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely require a lease extension at some point and it is worth discovering what this will be. Remember, in most cases you would be required to have owned the residence for a couple of years before you are eligible to carry out a lease extension. You will want to find out as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the tidiness of the communal areas. Ask other people what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending that money. On the whole the outlay for major works tend not to be built into the maintenance charges, although some managing agents in Westbury On Trym obliged tenants to pay into a sinking fund created for the specific intention of establishing a fund for major works.

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Lease Extensions in Westbury On Trym