Recently asked questions relating to Arnside leasehold conveyancing
I’m about to sell my garden flat in Arnside.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge 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 managing agents will not acknowledge the buyer until 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.
My wife and I purchased a leasehold flat in Arnside. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Arnside who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Arnside conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Arnside. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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 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 offer any advice when it comes to finding a Arnside conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Arnside conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Arnside 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 helpful:
- How experienced is the firm with lease extension legislation?
If all goes to plan we aim to complete our sale of a £475000 flat in Arnside next week. The landlords agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Arnside?
Arnside conveyancing on leasehold maisonettes nine out of ten times results in administration charges levied by managing agents :
- Completing pre-exchange enquiries
- Where consent is required before sale in Arnside
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a ground floor flat in Arnside, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Arnside with an extended lease are worth £265,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2079
You have 54 years left to run the likely cost is going to range between £32,300 and £37,400 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
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