I’m about to sell my basement flat in Kirkwhelpington.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – Do I pay up?

The sensible thing to do is clear 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 am tempted by the attractive purchase price for a two maisonettes in Kirkwhelpington both have approximately 50 years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold house in Kirkwhelpington. Do I have any liability for 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. 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).

Completion in due on the sale of our £150000 maisonette in Kirkwhelpington next Wednesday . The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Kirkwhelpington?

Kirkwhelpington conveyancing on leasehold apartments normally requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Are there frequently found deficiencies that you come across in leases for Kirkwhelpington properties?

There is nothing unique about leasehold conveyancing in Kirkwhelpington. Most leases are unique and drafting errors can sometimes mean that 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 parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have 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, Norwich and Peterborough Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Kirkwhelpington - Examples of Queries before Purchasing

The prefered form of lease arrangement is a share of the freehold. In this situation the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is bigger than a house conversion, the managing agent is directed by the tenants. It would be prudent to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily matters such as the tidiness of the common parts. Ask prospective neighbours what they think of them. Finally, be sure you know the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. Be sure to find out if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Kirkwhelpington. If you love the propertyin Kirkwhelpington yet your dog is not allowed to move with you then you will be presented with a difficult determination.

Other Topics

Lease Extensions in Kirkwhelpington