Experts for Leasehold Conveyancing in Darley Abbey

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Darley Abbey, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Darley Abbey leasehold conveyancing

My wife and I purchased a leasehold house in Darley Abbey. Conveyancing and Barclays Direct mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Darley Abbey who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Darley Abbey conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold house in Darley Abbey. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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 ensure 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).

Can you provide any top tips for leasehold conveyancing in Darley Abbey with the aim of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Darley Abbey can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Darley Abbey state that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. Where you fail to have the consents to hand you should not contact the landlord without checking with your conveyancer in the first instance.
  • A minority of Darley Abbey leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate can be a lengthy process and slows down many a Darley Abbey home move. Where a reissued share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • If all goes to plan we aim to complete the sale of our £125000 garden flat in Darley Abbey next Tuesday . The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Darley Abbey?

    Darley Abbey conveyancing on leasehold apartments more often than not involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Are there common problems that you come across in leases for Darley Abbey properties?

    Leasehold conveyancing in Darley Abbey is not unique. All 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:

    • A provision to repair 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 could 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. Yorkshire Building Society, The Mortgage Works, 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, obliging the buyer to withdraw.

    I purchased a basement flat in Darley Abbey, conveyancing having been completed 2012. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Darley Abbey with over 90 years remaining are worth £237,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2077

    With only 52 years unexpired we estimate the price of your lease extension to range between £30,400 and £35,200 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Darley Abbey