Estate agents have just been given the go-ahead to market my garden flat in Kirk Ella.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – what should I do?

It best that you 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two apartments in Kirk Ella both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Kirk Ella is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kirk Ella conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in Kirk Ella. 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).

Can you provide any top tips for leasehold conveyancing in Kirk Ella from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Kirk Ella can be avoided if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
• The majority freeholders or Management Companies in Kirk Ella charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Kirk Ella.

All being well we will complete the disposal of our £425000 flat in Kirk Ella next Tuesday . The management company has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kirk Ella?

Kirk Ella conveyancing on leasehold flats usually necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

I am the registered owner of a 2 bed flat in Kirk Ella, conveyancing was carried out in 2008. Can you work out an approximate cost of a lease extension? Similar flats in Kirk Ella with a long lease are worth £190,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2098

With 73 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

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Lease Extensions in Kirk Ella