I have just appointed agents to market my 2 bed flat in Brynford.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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. This will smooth the conveyancing process.

I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Brynford. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Brynford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Brynford so you should seriously consider looking for a Brynford conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

I am employed by a long established estate agency in Brynford where we have witnessed a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Brynford conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner 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 can avoid having to wait 2 years for a lease extension. 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 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 purchaser.

All being well we will complete our sale of a £275000 garden flat in Brynford in just under a week. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Brynford?

Brynford conveyancing on leasehold maisonettes more often than not involves the purchaser’s lawyer sending 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 charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.

What makes a Brynford lease unmortgageable?

There is nothing unique about leasehold conveyancing in Brynford. All leases is drafted differently and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Barnsley Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

Brynford Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Does the lease include onerous restrictions? How many years remain on the lease? If a Brynford lease has fewer than eighty years it will have adverse implications on the value of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Brynfordlease extensions you would be required to have owned the premises for 24 months in order to be legally able to carry out a lease extension.

Other Topics

Lease Extensions in Brynford