Recently asked questions relating to Bridport leasehold conveyancing
Planning to exchange soon on a basement flat in Bridport. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bridport should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Bridport. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bridport ?
Most houses in Bridport are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Bridport in which case you should be looking for a Bridport conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
Last month I purchased a leasehold flat in Bridport. Am I liable to pay service charges for periods before completion of my purchase?
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 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).
Can you provide any advice for leasehold conveyancing in Bridport from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bridport can be bypassed where you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Bridport leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. If you fail to have the paperwork in place do not communicate with the landlord without contacting your lawyer before hand.
Completion in due on the disposal of our £375000 flat in Bridport in nine days. The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bridport?
Bridport conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Bridport Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
It would be prudent to find out if there are any onerous restrictions in the lease. By way of example it is reasonably common in Bridport leases that pets are not permitted in certain buildings in Bridport. If you like the flatin Bridport but your cat can’t move with you then you will be faced hard compromise.
It would be prudent to discover as much as you can about the company managing the block as they will either make your living at the property much easier or a lot more difficult. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the common parts. You should not be shy to ask other tenants what they think of their management. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and precisely how they are spending the funds.
How long is the Lease?