I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Delabole. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Delabole are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Delabole so you should seriously consider shopping around for a Delabole conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I own a leasehold flat in Delabole. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Delabole who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Delabole conveyancing practitioner to do this as it can be done on-line for £3. 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 property in Delabole. Am I liable to pay service charges relating to a period prior to my ownership?

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 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).

We expect to complete our sale of a £225000 apartment in Delabole in 8 days. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Delabole?

Delabole conveyancing on leasehold apartments usually involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have no option but to pay whatever is demanded should you wish to sell the property.

When it comes to leasehold conveyancing in Delabole what are the most frequent lease defects?

Leasehold conveyancing in Delabole is not unique. All leases is drafted differently and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will 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. Yorkshire Building Society, The Royal Bank of Scotland, and TSB all have very detailed 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 purchaser to withdraw.

Delabole Leasehold Conveyancing - Sample of Questions you should consider Prior to buying

It is important to be aware whether redecorating or some other significant cost is pending to be shared between the leasehold owners and will materially impact the level of the maintenance fees or necessitate a specific payment. Is the freehold reversion owned jointly by the leaseholders? Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Delabole