Fixed-fee leasehold conveyancing in Fishponds:

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Sample questions relating to Fishponds leasehold conveyancing

I am hoping to exchange soon on a leasehold property in Fishponds. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Defining your rights in respect of common areas in the block.By way of example, does the lease grant a right of way over an accessway or staircase?
  • Does the lease prohibit wood flooring?
  • You should be told what constitutes a Nuisance in the lease
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Fishponds please enquire of your solicitor in ahead of your conveyancing in Fishponds

    • I own a leasehold flat in Fishponds. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Fishponds who acted for me is not around.Any advice?

    First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Fishponds conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Do you have any top tips for leasehold conveyancing in Fishponds with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Fishponds can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
    • The majority freeholders or Management Companies in Fishponds levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Fishponds.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Fishponds leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such alterations. Should you dont have the paperwork in place you should not communicate with the landlord without checking with your lawyer in the first instance.
  • Some Fishponds leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400000 garden flat in Fishponds in seven days. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Fishponds?

    Fishponds conveyancing on leasehold maisonettes often requires the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to do so. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    Are there common defects that you witness in leases for Fishponds properties?

    There is nothing unique about leasehold conveyancing in Fishponds. Most leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • 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 will have 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. Yorkshire Building Society, Norwich and Peterborough Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Fishponds Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

      You should want to discover as much as you can regarding the managing agents as they will either make living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the upkeep of the communal areas. You should not be shy to ask other tenants if they are happy with them. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically what you get for your money. How much is the annual service fee and ground rent? How is the lease structured?

    Other Topics

    Lease Extensions in Fishponds