Planning to complete next month on a basement flat in Cheddar. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Cheddar should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Estate agents have just been given the go-ahead to market my garden apartment in Cheddar.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?

It best that you discharge 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 management companies 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Cheddar. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Cheddar ?

Most houses in Cheddar are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Cheddar in which case you should be shopping around for a Cheddar conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I've recently bought a leasehold house in Cheddar. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Are there common defects that you come across in leases for Cheddar properties?

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

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Leeds Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Cheddar - A selection of Queries before buying

You should want to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the communal areas. Don't be afraid to ask other people what they think of their management. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. How many of the leaseholders are in arrears for their maintenance charge payments? This information is helpful as a) areas can cause problems in the block as the communal areas may start to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the managing agents you will need to know about it

Other Topics

Lease Extensions in Cheddar