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 all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bishop Auckland. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Bishop Auckland are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Bishop Auckland so you should seriously consider looking for a Bishop Auckland conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

Last month I purchased a leasehold property in Bishop Auckland. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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 ensure 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 Bishop Auckland conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Bishop Auckland conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Bishop Auckland conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the firm with lease extension legislation?
• If the firm is not ALEP accredited then what is the reason?

Do you have any advice for leasehold conveyancing in Bishop Auckland from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Bishop Auckland can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
• The majority landlords or managing agents in Bishop Auckland levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Bishop Auckland.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Bishop Auckland leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place do not contact the landlord without checking with your conveyancer in advance.
• A minority of Bishop Auckland leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
• If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a lengthy process and slows down many a Bishop Auckland home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 150000 maisonette in Bishop Auckland in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bishop Auckland?

Bishop Auckland conveyancing on leasehold maisonettes normally involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to do so. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I am the registered owner of a leasehold flat in Bishop Auckland, conveyancing was carried out in 1998. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Bishop Auckland with over 90 years remaining are worth £208,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2076

You have 50 years unexpired we estimate the price of your lease extension to range between £34,200 and £39,600 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.