I’m about to sell my 2 bed flat in Fenny Stratford.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Fenny Stratford. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Fenny Stratford 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. it is apparent that you are buying in Fenny Stratford so you should seriously consider shopping around for a Fenny Stratford conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I've recently bought a leasehold property in Fenny Stratford. Am I liable to pay service charges for periods before my ownership?

In a situation 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 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).

Completion in due on the disposal of our £ 200000 garden flat in Fenny Stratford in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Fenny Stratford?

Fenny Stratford conveyancing on leasehold flats typically necessitates fees being levied by freeholders :

• Completing pre-exchange questions
• Where consent is required before sale in Fenny Stratford
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Fenny Stratford leasehold property is £350. For Fenny Stratford conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

In relation to leasehold conveyancing in Fenny Stratford what are the most common lease problems?

Leasehold conveyancing in Fenny Stratford 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 property
• Insurance obligations
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Bank of Ireland all have very detailed requirements 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 grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Fenny Stratford - Examples of Queries Prior to Purchasing