I have just started marketing my 2 bed flat in Ainsdale.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you pay 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of maisonettes in Ainsdale both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Ainsdale. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to finding a Ainsdale conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Ainsdale conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Ainsdale conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If they are not ALEP accredited then what is the reason?

We expect to complete the sale of our £475000 apartment in Ainsdale in just under a week. The managing agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Ainsdale?

Ainsdale conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to complete the sale of your home.

In relation to leasehold conveyancing in Ainsdale what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Ainsdale. All leases are unique and drafting errors can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• 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

You could have 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. Lloyds TSB Bank, Leeds Building Society, and Nottingham Building Society all have express conveyancing instructions 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, forcing the purchaser to withdraw.

Ainsdale Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

What is the maintenance charge and ground rent on the apartment? Does the lease contain onerous restrictions? Are there any major works on the horizon that will increase the service fees?

Other Topics

Lease Extensions in Ainsdale