I’m about to sell my basement flat in Allenton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is clear the service charge 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Allenton. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Allenton ?

Most houses in Allenton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Allenton so you should seriously consider looking for a Allenton 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. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of flats in Allenton both have in the region of forty five years left on the leases. should I be concerned?

There are plenty of short leases in Allenton. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I am a negotiator for a reputable estate agency in Allenton where we see a few leasehold sales derailed due to short leases. I have received conflicting advice from local Allenton conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What advice can you give us when it comes to choosing a Allenton conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Allenton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Allenton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• What volume of lease extensions have they completed in Allenton in the last year?

Allenton Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

It would be wise to investigate if there is anything that is prohibited in the lease. For example it is reasonably common in Allenton leases that pets are not permitted in in a block in Allenton. If you like the apartmentin Allenton but your cat is not allowed to live with you then you have a very hard decision. Who are the managing agents? Is the freehold owned jointly by the leaseholders?

Other Topics

Lease Extensions in Allenton