Planning to exchange soon on a ground floor flat in Eastwood. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Do you need to have carpet in the flat or are you allowed wood flooring?

I’m about to sell my basement apartment in Eastwood.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

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 managing agents will not acknowledge the buyer unless 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 work for a busy estate agency in Eastwood where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Eastwood conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

We expect to complete the disposal of our £325000 flat in Eastwood next Wednesday . The managing agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Eastwood?

Eastwood conveyancing on leasehold maisonettes normally necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

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

There is nothing unique about leasehold conveyancing in Eastwood. All leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• 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 will 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. National Westminster Bank, Skipton Building Society, and Clydesdale 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 is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

Eastwood Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

Are there any major works in the planning that will likely increase the maintenance charges? Who are the managing agents? Be sure to enquire if the the lease includes any onerous restrictions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Eastwood. If you love the propertyin Eastwood however your dog is not allowed to move with you then you will be presented with a hard decision.

Other Topics

Lease Extensions in Eastwood