Aston Clinton leasehold conveyancing: Q and A’s
I’m about to sell my ground floor flat in Aston Clinton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Aston Clinton. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Aston Clinton ?
Most houses in Aston Clinton are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Aston Clinton so you should seriously consider shopping around for a Aston Clinton conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
Last month I purchased a leasehold property in Aston Clinton. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
What are your top tips when it comes to choosing a Aston Clinton conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Aston Clinton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Aston Clinton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
We expect to complete our sale of a £250000 maisonette in Aston Clinton in just under a week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Aston Clinton?
Aston Clinton conveyancing on leasehold apartments usually necessitates administration charges raised by landlords agents :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Aston Clinton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Aston Clinton, conveyancing having been completed 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Aston Clinton with over 90 years remaining are worth £211,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2101
With 80 years left to run the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.