I am looking at a couple of maisonettes in Ferryside which have in the region of fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Ferryside. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Ferryside. 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. It is an essential part 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).

Can you offer any advice when it comes to finding a Ferryside conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Ferryside conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Ferryside conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• What are the legal fees for lease extension work?

Do you have any advice for leasehold conveyancing in Ferryside from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Ferryside can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Ferryside leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you fail to have the approvals to hand you should not contact the landlord without contacting your solicitor first.
• Some Ferryside leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 buyers or their solicitors.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 275000 flat in Ferryside in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ferryside?

Ferryside conveyancing on leasehold apartments normally necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to sell the property.

Leasehold Conveyancing in Ferryside - A selection of Queries before Purchasing

This question is important as a) areas could result in problems for the block as the common areas may start to deteriorate if services remain unpaid b) if the leaseholders have an issue with the running of the building you will need to know about it