Looking forward to complete next month on a garden flat in Yelverton. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Yelverton should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Defining your legal entitlements in relation to the communal areas in the block.For instance, does the lease permit a right of way over a path or staircase?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

I have just appointed agents to market my 2 bed apartment in Yelverton.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you clear the invoice 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 managing agents 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 today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Yelverton. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Yelverton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Yelverton so you should seriously consider looking for a Yelverton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

Back In 2008, I bought a leasehold house in Yelverton. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Yelverton who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Yelverton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What makes a Yelverton lease unmortgageable?

There is nothing unique about leasehold conveyancing in Yelverton. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• 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 will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Alliance & Leicester 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 problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

Yelverton Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Most Yelverton leasehold flats will incur a service charge for the upkeep of the building invoiced on behalf of the landlord. Should you acquire the apartment you will have to meet this contribution, usually in instalments accross the year. This can differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a large figure, say about £25-£75 but you need to check it because sometimes it can be many hundreds of pounds. Best to be warned if redecorating or some other significant cost is due shortly to be shared amongst the tenants and could well dramatically impact the level of the maintenance fees or necessitate a specific invoice.