Sample questions relating to Hungerford leasehold conveyancing
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Hungerford. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hungerford ?
Most houses in Hungerford are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Hungerford so you should seriously consider looking for a Hungerford conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder 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’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Hungerford. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Hungerford who acted for me is not around.What should I do?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Hungerford conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Hungerford. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. 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 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).
What are your top tips when it comes to finding a Hungerford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Hungerford conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Hungerford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
We expect to complete the disposal of our £175000 maisonette in Hungerford in just under a week. The management company has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Hungerford?
Hungerford conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may levy a reasonable charge 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 £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
Hungerford Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed where the building is bigger than a house conversion, the managing agent employed by the leaseholders.
Most Hungerford leasehold apartments will incur a service charge for the upkeep of the building invoiced on behalf of the freeholder. Should you purchase the flat you will have to pay this liability, usually in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge to be met annual, this is usually not a significant figure, say around £25-£75 but you need to enquire as on occasion it could be many hundreds of pounds.
Please tell me if there are any major works anticipated that could increase the service fees?