I have just appointed agents to market my ground floor flat in Beckermet.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – what should I do?

The sensible thing to do is 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 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 am tempted by the attractive purchase price for a couple of flats in Beckermet which have in the region of forty five years remaining on the lease term. should I be concerned?

There are plenty of short leases in Beckermet. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a busy estate agent office in Beckermet where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Beckermet conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

Can you offer any advice when it comes to finding a Beckermet conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Beckermet conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Beckermet conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• Can they put you in touch with client in Beckermet who can give a testimonial?

We expect to complete the sale of our £425000 flat in Beckermet next Thursday . The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Beckermet?

Beckermet conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to sell the property.

I purchased a ground floor flat in Beckermet, conveyancing having been completed 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Beckermet with over 90 years remaining are worth £230,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2093

With only 69 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Beckermet