Experts for Leasehold Conveyancing in Kendal

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Kendal leasehold conveyancing: Q and A’s

I’m about to sell my ground floor apartment in Kendal.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?

The sensible thing to do is pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found 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 would have thought that there are particular concerns purchasing a house with a leasehold title in Kendal. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Kendal are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Kendal in which case you should be looking for a Kendal conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

Back In 2008, I bought a leasehold house in Kendal. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Kendal who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Kendal conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Kendal with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Kendal can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
  • Many freeholders or managing agents in Kendal charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Kendal.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Kendal leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the consents to hand do not communicate with the landlord without contacting your solicitor first.
  • A minority of Kendal leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Are there common defects that you encounter in leases for Kendal properties?

    Leasehold conveyancing in Kendal is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter 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. National Westminster Bank, Coventry Building Society, and Britannia 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 is defective they may refuse to provide security, forcing the purchaser to pull out.

    Kendal Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

      What prohibitions are there in the Kendal Lease? You should be aware if it is fewer than 80 years it will affect the value of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will be required to have owned the residence for 24 months in order to be legally able to extend the lease. It would be wise to find out as much as you can regarding the managing agents as they can either make life much easier or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the common parts. Ask other tenants what they think of them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely how they are spending that money.

    Other Topics

    Lease Extensions in Kendal