Sample questions relating to Buckden leasehold conveyancing
Estate agents have just been given the go-ahead to market my garden apartment in Buckden.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – Do I pay up?
The sensible thing to do is pay the service charge 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 own a leasehold flat in Buckden. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Buckden who acted for me is not around.What should I do?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Buckden conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to appointing a Buckden conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Buckden conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Buckden 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 helpful:
- What volume of lease extensions has the firm conducted in Buckden in the last 12 months?
- What are the costs for lease extension work?
Completion in due on our sale of a £ 475000 garden flat in Buckden in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Buckden?
Buckden conveyancing on leasehold maisonettes often necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
What are the frequently found problems that you encounter in leases for Buckden properties?
There is nothing unique about leasehold conveyancing in Buckden. Most leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- 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 a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Clydesdale all have very detailed conveyancing instructions 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 provide security, forcing the purchaser to pull out.
Buckden Conveyancing for Leasehold Flats - A selection of Queries before buying
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The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and even though a managing agent is often employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
What restrictions exist in the Buckden Lease?
Are there any major works on the horizon that could add a premium to the maintenance fees?