I am hoping to sign contracts shortly on a basement flat in Greenfield. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Greenfield should include some of the following:

• You should be sent a copy of the lease

I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Greenfield. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Greenfield are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Greenfield so you should seriously consider shopping around for a Greenfield conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

Back In 2008, I bought a leasehold house in Greenfield. Conveyancing and TSB mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Greenfield who previously acted has long since retired.Do I pay?

First contact 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 Greenfield conveyancing firm to do this as it can be done on-line for a few pound. 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 apartment in Greenfield in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Greenfield?

Greenfield conveyancing on leasehold apartments normally necessitates the buyer’s lawyer sending questions 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 invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to sell the property.

When it comes to leasehold conveyancing in Greenfield what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Greenfield. Most leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• 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. HSBC Bank, Coventry Building Society, and Platform Home Loans Ltd 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, forcing the purchaser to pull out.

Leasehold Conveyancing in Greenfield - Examples of Queries Prior to buying

Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Greenfield obliged leaseholders to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Be sure to find out if the the lease includes any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Greenfield. If you love the propertyin Greenfield however your cat can’t move with you then you have a very difficult compromise. If a Greenfield lease has less than eighty years it will affect the salability of the property. It is worth checking with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering what this would cost. For most Greenfieldlease extensions you would need to own the premises for 24 months in order to be entitled to extend the lease.

Other Topics

Lease Extensions in Greenfield