Looking forward to complete next month on a garden flat in Beckermet. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Beckermet should include some of the following:

• You should receive a copy of the lease

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Beckermet. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Beckermet ?

The majority of houses in Beckermet 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. it is apparent that you are buying in Beckermet in which case you should be looking for a Beckermet conveyancing solicitor and be sure that they are used to transacting 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 will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. 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 lawyer should report to you on the legal implications.

I've recently bought a leasehold house in Beckermet. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. 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 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).

I am a negotiator for a long established estate agent office in Beckermet where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Beckermet conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £425000 flat in Beckermet next week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Beckermet?

Beckermet conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

I own a leasehold flat in Beckermet, conveyancing having been completed 2004. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Beckermet with an extended lease are worth £178,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2088

With 62 years unexpired the likely cost is going to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Beckermet