Leasehold Conveyancing in Kendal - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Kendal

Estate agents have just been given the go-ahead to market my ground floor apartment in Kendal.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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 recently bought a leasehold house in Kendal. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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 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 are your top tips when it comes to choosing a Kendal conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Kendal conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Kendal conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Kendal who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Kendal from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Kendal can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Kendal charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought 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 common cause of delay in leasehold conveyancing in Kendal.
  • Some Kendal leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming formality and delays many a Kendal home move. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 apartment in Kendal in just under a week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Kendal?

    Kendal conveyancing on leasehold apartments normally requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    I own a 1st floor flat in Kendal, conveyancing was carried out in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Kendal with over 90 years remaining are worth £210,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2098

    You have 73 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Kendal