Looking forward to complete next month on a ground floor flat in Bangor. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Bangor should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The total extent of the demise. This will be the flat itself but might incorporate a roof space or cellar if applicable.

Ground rent - how much and when you need to pay, and also know whether this will change in the future

You should have a good understanding of the insurance provisions

Responsibility for repairing the window frames

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Bangor please ask your solicitor in advance of your conveyancing in Bangor

I’m about to sell my 2 bed apartment in Bangor.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bangor. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Bangor ?

Most houses in Bangor are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Bangor so you should seriously consider looking for a Bangor conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold flat in Bangor. Am I liable to pay service charges for periods before my ownership?

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).

If all goes to plan we aim to complete our sale of a £200000 flat in Bangor on Monday in a week. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Bangor?

Bangor conveyancing on leasehold apartments typically involves fees being levied by management companies :

• Answering pre-exchange enquiries
• Where consent is required before sale in Bangor
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Bangor leasehold premises is £350. For Bangor 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 required to supply answers.

Bangor Leasehold Conveyancing - Sample of Queries before Purchasing

What is the the remaining lease term? How many of the leaseholders are in arrears for their maintenance charge payments? The answer will be important as a) areas may result in problems in the building as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will wish to have full disclosure

Other Topics

Lease Extensions in Bangor