I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Holmrook. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Holmrook ?

The majority of houses in Holmrook 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 purchasing in Holmrook so you should seriously consider shopping around for a Holmrook conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a two apartments in Holmrook which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Holmrook. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

Last month I purchased a leasehold house in Holmrook. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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 choosing a Holmrook conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Holmrook conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Holmrook conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If the firm is not ALEP accredited then what is the reason?
• What are the charges for lease extension work?

All being well we will complete our sale of a £ 425000 apartment in Holmrook on Tuesday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Holmrook?

Holmrook conveyancing on leasehold apartments normally involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to sell the property.

Holmrook Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

Make sure you find out if there is anything that is prohibited in the lease. For example it is fairly common in Holmrook leases that pets are not permitted in certain buildings in Holmrook. If you like the propertyin Holmrook yet your dog can’t move with you then you will be faced hard decision. Are any of leasehold owners in dispute over their service charge liability? Plenty Holmrook leasehold properties will incur a service bill for the upkeep of the block set by the management company. Where you purchase the property you will have to pay this liability, normally in instalments during the year. This can be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a ground rent for you to pay annual, normally this is not a significant sum, say around £25-£75 but you should to check it because on occasion it could be many hundreds of pounds.