I’m about to sell my garden apartment in Claverdon.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Claverdon. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Claverdon ?

The majority of houses in Claverdon are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Claverdon in which case you should be looking for a Claverdon conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a couple of maisonettes in Claverdon both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Claverdon. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Claverdon with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Claverdon can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Claverdon leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such changes. Should you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer before hand.

What makes a Claverdon lease defective?

Leasehold conveyancing in Claverdon is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Mortgage Works, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

Claverdon Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

Please note that where the lease has fewer than eighty years it will have adverse implications on the salability of the apartment. It is worth checking with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you will be required to have been the owner of the property for two years before you are entitled to exercise a lease extension. Its a good idea to discover as much as you can about the company managing the building as they can either make living at the property much simpler or much more difficult. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily issues like the cleanliness of the communal areas. Ask prospective neighbours what they think of them. Finally, be sure you know the dates that the service fees are due to the managing agents and specifically what you get for your money. Is anyone aware of any major works anticipated that will add a premium to the maintenance costs?

Other Topics

Lease Extensions in Claverdon