I have just started marketing my basement apartment in Brownhills.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?

It best that you 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 unless 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. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Brownhills. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Brownhills are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Brownhills in which case you should be shopping around for a Brownhills conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a two maisonettes in Brownhills which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. 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 as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Brownhills conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Brownhills conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Brownhills conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• What volume of lease extensions has the firm carried out in Brownhills in the last 12 months?

When it comes to leasehold conveyancing in Brownhills what are the most common lease defects?

Leasehold conveyancing in Brownhills is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Leasehold Conveyancing in Brownhills - Examples of Queries Prior to Purchasing

Please inform me if there are any major works in the near future that will likely increase the maintenance charges? How many of the leaseholders are in arrears for their service charge payments? Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Brownhills