I have just appointed agents to market my garden apartment in Brackla.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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.

My wife and I purchased a leasehold flat in Brackla. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Brackla who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Brackla conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two apartments in Brackla both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Brackla. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

I work for a reputable estate agent office in Brackla where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Brackla conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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.

Completion in due on our sale of a £325000 garden flat in Brackla next Monday . The landlords agents has quoted £336 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Brackla?

Brackla conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to sell the property.

I acquired a split level flat in Brackla, conveyancing was carried out 2010. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Brackla with over 90 years remaining are worth £173,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2097

You have 72 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Brackla