Fixed-fee leasehold conveyancing in Boscombe:

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Frequently asked questions relating to Boscombe leasehold conveyancing

Planning to exchange soon on a leasehold property in Boscombe. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • The physical extent of the premises. This will be the apartment itself but might include a roof space or basement if appropriate.
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Boscombe please ask your conveyancer in advance of your conveyancing in Boscombe

    • Estate agents have just been given the go-ahead to market my garden flat in Boscombe.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

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

    Back In 2003, I bought a leasehold house in Boscombe. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Boscombe who previously acted has long since retired.Do I pay?

    First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Boscombe conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Can you provide any advice for leasehold conveyancing in Boscombe with the purpose of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Boscombe can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Some Boscombe leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a duplicate share certificate is often a lengthy process and delays many a Boscombe conveyancing transaction. Where a duplicate share is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • All being well we will complete the disposal of our £125000 maisonette in Boscombe next week. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Boscombe?

    Boscombe conveyancing on leasehold apartments usually involves the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

    I inherited a 1 bedroom flat in Boscombe, conveyancing formalities finalised 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Boscombe with over 90 years remaining are worth £261,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2104

    With just 79 years unexpired the likely cost is going to span between £8,600 and £9,800 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 cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

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    Lease Extensions in Boscombe