Looking forward to sign contracts shortly on a garden flat in Barnstaple. 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 Barnstaple should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

I’m about to sell my 2 bed apartment in Barnstaple.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you 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 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Barnstaple. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Barnstaple ?

Most houses in Barnstaple are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Barnstaple so you should seriously consider shopping around for a Barnstaple conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

Back In 2004, I bought a leasehold flat in Barnstaple. Conveyancing and Clydesdale mortgage went though with no issue. 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 1995. The conveyancing practitioner in Barnstaple who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Barnstaple conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

If all goes to plan we aim to complete our sale of a £500000 apartment in Barnstaple in just under a week. The landlords agents has quoted £324 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 Barnstaple?

Barnstaple conveyancing on leasehold maisonettes usually involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you if you want to sell the property.

Barnstaple Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

You will want to discover as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the common parts. Enquire of other tenants what they think of them. On a final note, find out the dates that the maintenance fees are due to the appropriate party and precisely how they are spending that money. Where a Barnstaple lease has less than 80 years it will affect the salability of the flat. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will need to own the property for two years in order to be eligible to carry out a lease extension. The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the tenants have control and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Barnstaple