Estate agents have just been given the go-ahead to market my 2 bed flat in Helsby.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice 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 Helsby. Conveyancing and Yorkshire Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Helsby who acted for me is not around.Any advice?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Helsby conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Helsby both have in the region of 50 years remaining on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

Last month I purchased a leasehold flat in Helsby. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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 be sure 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).

In relation to leasehold conveyancing in Helsby what are the most frequent lease problems?

Leasehold conveyancing in Helsby is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

Helsby Leasehold Conveyancing - Sample of Queries before Purchasing

On the whole the outlay for major works tend not to be built into the service charges, albeit that some managing agents in Helsby ask leasehold owners to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance. Make sure you find out if the the lease includes any unreasonable restrictions in the lease. For instance it is fairly common in Helsby leases that pets are not permitted in certain buildings in Helsby. If you like the flatin Helsby yet your cat is not allowed to move with you then you have a very hard compromise. Its a good idea to discover as much as possible regarding the company managing the building as they can either make living at the property much simpler or a lot more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. Don't be shy to ask other tenants what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what you get for your money.

Other Topics

Lease Extensions in Helsby