Fixed-fee leasehold conveyancing in Killamarsh:

When it comes to leasehold conveyancing in Killamarsh, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Nationwide make sure you choose a lawyer on their approved list. Find a Killamarsh conveyancing lawyer with our search tool

Questions and Answers: Killamarsh leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Killamarsh. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Killamarsh - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I’m about to sell my basement apartment in Killamarsh.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a two apartments in Killamarsh which have about 50 years left on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold property in Killamarsh. 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).

We expect to complete our sale of a £250000 flat in Killamarsh in just under a week. The freeholder has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Killamarsh?

Killamarsh conveyancing on leasehold flats usually involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Killamarsh Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

    What restrictions exist in the Killamarsh Lease? Is anyone aware of any major works in the near future that could increase the maintenance costs? Who is in charge of the block?

Other Topics

Lease Extensions in Killamarsh