I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Acle. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Acle are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Acle in which case you should be looking for a Acle conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

Last month I purchased a leasehold flat in Acle. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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. 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).

Can you provide any advice for leasehold conveyancing in Acle from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Acle can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
• Many landlords or Management Companies in Acle levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Acle.

If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Acle state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such alterations. If you fail to have the consents to hand you should not contact the landlord without checking with your conveyancer in advance.

If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate is often a lengthy formality and delays many a Acle home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

All being well we will complete our sale of a £250000 flat in Acle next Wednesday . The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Acle?

Acle conveyancing on leasehold apartments normally necessitates fees being raised by management companies :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Acle
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Acle leasehold property is £350. For Acle 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.

Are there frequently found defects that you encounter in leases for Acle properties?

Leasehold conveyancing in Acle is not unique. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Acle Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Many Acle leasehold apartments will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the freeholder. Should you acquire the property you will have to meet this contribution, usually periodically during the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a ground rent to be met annual, normally this is not a exorbitant sum, say around £50-£100 but you should to check as on occasion it can be many hundreds of pounds. Make sure you discover if the the lease includes any onerous restrictions in the lease. By way of example it is fairly common in Acle leases that pets are not allowed in certain buildings in Acle. If you love the propertyin Acle but your cat is not allowed to live with you then you will be presented with a hard compromise. How much is the service charge and ground rent on the apartment?

Other Topics

Lease Extensions in Acle