I am about to put a bid on a leasehold apartment in Allenton. The property agents say that it is standard for flats in Allenton to have less than 75 years unexpired on the lease. I am obtaining a loan with Virgin. Will the property be mortgageable given that the lease has 70 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/10/2025 the requirements read as follows :

Should my conveyancer be raising questions concerning flooding as part of the conveyancing in Allenton.

Flooding is a growing risk for solicitors dealing with homes in Allenton. There are those who buy a house in Allenton, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Conveyancers are not qualified to give advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their lawyers which can give them a better understanding of the risks in Allenton. The standard information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to find out whether the premises has historically flooded. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a legal claim for losses as a result of such an misleading reply. A buyer’s conveyancers will also commission an enviro report. This will indicate if there is a recorded flood risk. If so, additional inquiries will need to be carried out.

three months have elapsed since my purchase conveyancing in Allenton took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Allenton I like with amenity areas and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Allenton for this price, so just wondered if I would be making a grave error buying a short lease?

Should you require a home loan that many years will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.

I've recently bought a leasehold property in Allenton. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

Leasehold Conveyancing in Allenton - Examples of Questions you should ask Prior to buying

How many of the leaseholders are in arrears for their service charge payments? In the main the cost for major works tend not to be included within service charges, although some managing agents in Allenton ask tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for larger works. It is important to be aware if changing the roof or some other major work is anticipated that will be shared between the tenants and may well dramatically increase the the maintenance charges or require a one off invoice.