Examples of recent questions relating to leasehold conveyancing in Frenchay
I am in need of some leasehold conveyancing in Frenchay. Before diving in I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in Frenchay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 72 years left on my flat in Frenchay. I now want to get lease extension but my freeholder is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations a specialist may be useful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Frenchay.
Last month I purchased a leasehold property in Frenchay. Am I liable to pay service charges relating to a period prior to my ownership?
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. However, 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 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).
What advice can you give us when it comes to appointing a Frenchay conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Frenchay conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Frenchay conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
What are the frequently found deficiencies that you witness in leases for Frenchay properties?
There is nothing unique about leasehold conveyancing in Frenchay. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- 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
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Bank of Ireland all have express conveyancing instructions 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 provide security, obliging the buyer to withdraw.
Frenchay Conveyancing for Leasehold Flats - Sample of Queries before buying
Its a good idea to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the common parts. You should not be shy to ask other people if they are happy with them. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money.
Is the freehold reversion owned collectively by the tenants?
Many Frenchay leasehold apartments will be liable to pay a service bill for maintenance of the building levied by the management company. If you buy the apartment you will have to meet this liability, normally periodically accross the year. This may differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a ground rent to be met annual, this is usually not a exorbitant sum, say approximately £25-£75 but you should to enquire it because on occasion it can be surprisingly expensive.