Fixed-fee leasehold conveyancing in Buckley:

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Questions and Answers: Buckley leasehold conveyancing

I have just appointed agents to market my basement apartment in Buckley.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – Do I pay up?

It best that you clear 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2003, I bought a leasehold house in Buckley. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Buckley who previously acted has now retired.Do I pay?

First contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Buckley conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Buckley. Do I have any liability for service charges for periods before my ownership?

In a situation 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. However, 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).

I am employed by a busy estate agency in Buckley where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Buckley conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 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 sale.

Alternatively, it may be possible 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 choosing a Buckley conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Buckley conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Buckley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Buckley who can give a testimonial?

  • I acquired a 1st floor flat in Buckley, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Buckley with an extended lease are worth £234,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2098

    With just 74 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Buckley