Estate agents have just been given the go-ahead to market my basement flat in Beaumaris.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 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.

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Beaumaris. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Beaumaris ?

Most houses in Beaumaris are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Beaumaris so you should seriously consider looking for a Beaumaris conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

Back In 2005, I bought a leasehold flat in Beaumaris. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Beaumaris who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Beaumaris conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Beaumaris. Am I liable to pay service charges relating to a period prior to 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 makes a Beaumaris lease defective?

Leasehold conveyancing in Beaumaris is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Beaumaris - Examples of Questions you should ask before buying

How long is the Lease? Is the freehold owned collectively by the leaseholders? Plenty Beaumaris leasehold flats will have a service charge for maintenance of the block invoiced by the management company. Where you acquire the flat you will have to pay this charge, normally quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent for you to pay annual, normally this is not a exorbitant sum, say approximately £25-£75 but you need to enquire it because sometimes it can be prohibitively expensive.

Other Topics

Lease Extensions in Beaumaris