Estate agents have just been given the go-ahead to market my ground floor flat in Carlisle.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Carlisle both have about fifty years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

What advice can you give us when it comes to choosing a Carlisle conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Carlisle conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Carlisle conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?

If they are not ALEP accredited then what is the reason?

We expect to complete our sale of a £275000 maisonette in Carlisle on Monday in a week. The management company has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Carlisle?

Carlisle conveyancing on leasehold apartments ordinarily results in administration charges invoiced by landlords agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Carlisle
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Carlisle leasehold premises is £350. For Carlisle conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

Are there common defects that you see in leases for Carlisle properties?

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

• A provision to repair 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. Accord Mortgages Ltd, Chelsea Building Society, and Alliance & Leicester 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 does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Leasehold Conveyancing in Carlisle - Sample of Queries Prior to Purchasing

Are any of leasehold owners in arrears of their service charge payments? If a Carlisle lease has fewer than 80 years it will affect the salability of the apartment. Check with your bank that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Carlislelease extensions you would need to own the residence for a couple of years in order to be eligible to extend the lease. The best form of lease structure is a share of the freehold. In this scenario the leaseholders have control and notwithstanding that a managing agent is usually employed where the building is larger than a house conversion, the managing agent retained by the leaseholders.

Other Topics

Lease Extensions in Carlisle