Cotswolds leasehold conveyancing Example Support Desk Enquiries
My wife and I purchased a leasehold house in Cotswolds. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Cotswolds who acted for me is not around.What should I do?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Cotswolds conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Cotswolds. Do I have any liability for service charges for periods before my ownership?
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).
What are your top tips when it comes to appointing a Cotswolds conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Cotswolds conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Cotswolds conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- What volume of lease extensions has the firm completed in Cotswolds in the last year?
If all goes to plan we aim to complete the sale of our £425000 apartment in Cotswolds on Wednesday in a week. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Cotswolds?
Cotswolds conveyancing on leasehold apartments ordinarily necessitates fees being raised by managing agents :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Cotswolds
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the frequently found deficiencies that you witness in leases for Cotswolds properties?
There is nothing unique about leasehold conveyancing in Cotswolds. All leases are unique and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- 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 may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
Cotswolds Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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This information is important as a) areas may result in problems for the building as the common areas may start to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details
How is the lease structured?
It would be wise to find out as much as you can concerning the managing agents as they will either make living at the property much easier or a lot more difficult. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the communal areas. You should not be afraid to ask other people whether they are happy with their service. On a final note, be sure you know the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money.
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