I have just appointed agents to market my 2 bed flat in Forest of Dean.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – Do I pay up?

It best that you pay 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold flat in Forest of Dean. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Forest of Dean who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Forest of Dean conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Forest of Dean both have about forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Forest of Dean. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Forest of Dean from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Forest of Dean can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Forest of Dean leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without contacting your conveyancer before hand.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to pay 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a new share certificate can be a lengthy process and delays many a Forest of Dean conveyancing deal. If a reissued share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

In relation to leasehold conveyancing in Forest of Dean what are the most common lease defects?

Leasehold conveyancing in Forest of Dean is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Barclays Direct 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 is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

Forest of Dean Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

The majority of Forest of Dean leasehold flats will be liable to pay a service bill for the upkeep of the building levied on behalf of the management company. If you buy the property you will have to meet this contribution, usually in instalments during the year. This could vary from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent to be met yearly, this is usually not a large amount, say about £25-£75 but you should to enquire as on occasion it could be prohibitively expensive. This question is important as a) areas can cause problems for the block as the communal areas may start to deteriorate if services remain unpaid b) if the tenants have an issue with the running of the building you will need to have full disclosure How many years remain on the lease?