Frequently asked questions relating to Brixham leasehold conveyancing
I've recently bought a leasehold flat in Brixham. Do I have any liability for service charges for periods before my ownership?
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. A critical element 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).
I am a negotiator for a busy estate agency in Brixham where we have witnessed a number of flat sales put at risk due to short leases. I have been given inconsistent advice from local Brixham conveyancing solicitors. Could you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
What are your top tips when it comes to finding a Brixham conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Brixham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Brixham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions has the firm conducted in Brixham in the last year?
Do you have any advice for leasehold conveyancing in Brixham from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Brixham can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Brixham state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you fail to have the approvals in place you should not contact the landlord without contacting your solicitor first.
Completion in due on the disposal of our £450000 apartment in Brixham in just under a week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Brixham?
Brixham conveyancing on leasehold maisonettes normally involves fees being raised by freeholders :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Brixham
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Brixham Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
Are any of leasehold owners in arrears of their service charge payments?
Many Brixham leasehold properties will be liable to pay a service bill for the upkeep of the block levied by the landlord. Where you buy the flat you will have to meet this amount, usually in instalments accross the year. This could be anything from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, normally this is not a large sum, say approximately £50-£100 but you need to enquire it because occasionally it could be many hundreds of pounds.
The best form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this arrangement the tenants have being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.