Frequently asked questions relating to Kirkby Lonsdale leasehold conveyancing
I’m about to sell my garden apartment in Kirkby Lonsdale.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Kirkby Lonsdale. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Kirkby Lonsdale ?
Most houses in Kirkby Lonsdale are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Kirkby Lonsdale in which case you should be shopping around for a Kirkby Lonsdale conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
Last month I purchased a leasehold property in Kirkby Lonsdale. 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 owner 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 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 advice can you give us when it comes to finding a Kirkby Lonsdale conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Kirkby Lonsdale conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Kirkby Lonsdale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- Can they put you in touch with client in Kirkby Lonsdale who can give a testimonial?
What makes a Kirkby Lonsdale lease problematic?
Leasehold conveyancing in Kirkby Lonsdale is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Leasehold Conveyancing in Kirkby Lonsdale - Sample of Questions you should ask before buying
Most Kirkby Lonsdale leasehold properties will be liable to pay a service bill for maintenance of the building invoiced by the management company. If you buy the flat you will have to pay this charge, normally quarterly accross the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay annual, this is usually not a exorbitant amount, say about £50-£100 but you should to enquire it because occasionally it could be prohibitively expensive.
The answer will be useful as a) areas could result in problems for the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the tenants have an issue with the managing agents you will need to have all the details
Are any of leasehold owners in arrears of their service charge payments?