I have just appointed agents to market my ground floor apartment in Calstock.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – 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 managing agents 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.

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Calstock. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Calstock ?

Most houses in Calstock are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Calstock in which case you should be shopping around for a Calstock conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

What are your top tips when it comes to choosing a Calstock conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Calstock conveyancing practice) it is most important 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 Calstock conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

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

Completion in due on our sale of a £350000 apartment in Calstock on Wednesday in a week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Calstock?

Calstock conveyancing on leasehold flats normally necessitates the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

What makes a Calstock lease problematic?

There is nothing unique about leasehold conveyancing in Calstock. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

Calstock Leasehold Conveyancing - Examples of Queries before Purchasing

Please note if it is fewer than 80 years it will affect the salability of the flat. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth discovering how much this will be. For most Calstocklease extensions you will need to own the property for two years in order to be entitled to carry out a lease extension. How much is the service charge and ground rent on the property? The answer will be helpful as a) areas may cause problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to know about it

Other Topics

Lease Extensions in Calstock