I have just started marketing my ground floor flat in Harbury.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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 management companies will not acknowledge the buyer unless 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.

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Harbury. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Harbury are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Harbury in which case you should be looking for a Harbury conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I am looking at a couple of maisonettes in Harbury which have in the region of fifty years left on the lease term. Will this present a problem?

There are plenty of short leases in Harbury. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

All being well we will complete our sale of a £250000 flat in Harbury in nine days. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Harbury?

Harbury conveyancing on leasehold apartments usually requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Are there frequently found deficiencies that you come across in leases for Harbury properties?

There is nothing unique about leasehold conveyancing in Harbury. All leases is drafted differently and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• 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

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Platform Home Loans Ltd all have very detailed 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 pull out.

Leasehold Conveyancing in Harbury - A selection of Queries before buying

Please inform me if there are any major works in the planning that will add a premium to the maintenance costs? You should want to discover as much as possible about the company managing the block as they can either make life much simpler or problematic. As the proprietor of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to day to day issues such as the upkeep of the common parts. Ask other people whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the service charge to the appropriate party and specifically how they are spending that money. On the whole the cost for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Harbury require leaseholders to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.

Other Topics

Lease Extensions in Harbury