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Bournemouth leasehold conveyancing Example Support Desk Enquiries

Expecting to sign contracts shortly on a leasehold property in Bournemouth. Conveyancing lawyers assured 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 Bournemouth should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the apartment itself but could also include a loft or cellar if applicable.
  • You need to be told what constitutes a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Bournemouth please ask your solicitor in advance of your conveyancing in Bournemouth

    • I am tempted by the attractive purchase price for a two apartments in Bournemouth both have about forty five years left on the leases. Do I need to be concerned?

    There are plenty of short leases in Bournemouth. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area

    Last month I purchased a leasehold house in Bournemouth. Am I liable to pay service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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 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).

    Do you have any top tips for leasehold conveyancing in Bournemouth with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Bournemouth can be bypassed where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Bournemouth leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you dont have the consents to hand do not communicate with the landlord without checking with your lawyer before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and delays many a Bournemouth conveyancing transaction. Where a new share certificate is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on our sale of a £500000 maisonette in Bournemouth in just under a week. The management company has quoted £336 for Landlord’s certificate, 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 Bournemouth?

    Bournemouth conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to sell the property.

    Leasehold Conveyancing in Bournemouth - A selection of Questions you should consider Prior to Purchasing

      You will want to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day matters like the upkeep of the common parts. You should not be afraid to ask other people whether they are happy with them. In conclusion, find out the dates that the maintenance fees are due to the relevant party and specifically what it includes. If a Bournemouth lease has no more than 80 years it will impact the marketability of the apartment. It is worth checking with your bank that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will most likely need a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will be required to have been the owner of the premises for two years before you are entitled to carry out a lease extension. Make sure you enquire if there is anything that is prohibited in the lease. For instance it is very common in Bournemouth leases that pets are not allowed in in a block in Bournemouth. If you like the flatin Bournemouth but your cat is not allowed to make the move with you then you will be faced difficult decision.

    Other Topics

    Lease Extensions in Bournemouth