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Recently asked questions relating to Bedminster leasehold conveyancing

I’m about to sell my ground floor apartment in Bedminster.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – what should I do?

It best that you clear 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold property in Bedminster. Do I have any liability for service charges for periods before 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. 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 advice can you give us when it comes to finding a Bedminster conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bedminster conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Bedminster conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Bedminster who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Bedminster with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Bedminster can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Bedminster state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the paperwork to hand do not contact the landlord without contacting your solicitor in advance.
  • Some Bedminster leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and slows down many a Bedminster conveyancing transaction. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • In relation to leasehold conveyancing in Bedminster what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Bedminster. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Leasehold Conveyancing in Bedminster - Examples of Questions you should ask Prior to Purchasing

      Most Bedminster leasehold apartments will have a service bill for maintenance of the building levied on behalf of the landlord. Should you purchase the property you will have to meet this charge, normally in instalments during the year. This could differ from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a ground rent to be met annual, ordinarily this is not a exorbitant figure, say around £25-£75 but you should to enquire as occasionally it could be many hundreds of pounds. The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants. Best to be warned if redecorating or some other significant cost is coming up to be shared amongst the tenants and may well materially impact the level of the maintenance costs or require a specific payment.

    Other Topics

    Lease Extensions in Bedminster