I have just appointed agents to market my basement flat in Kirton in Lindsey.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – Do I pay up?

It best that you 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 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've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Kirton in Lindsey. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Kirton in Lindsey ?

The majority of houses in Kirton in Lindsey are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Kirton in Lindsey in which case you should be looking for a Kirton in Lindsey conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I am looking at a couple of maisonettes in Kirton in Lindsey both have about forty five 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 reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

I work for a busy estate agency in Kirton in Lindsey where we have witnessed a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Kirton in Lindsey conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Completion in due on our sale of a £125000 flat in Kirton in Lindsey next Friday . The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kirton in Lindsey?

Kirton in Lindsey conveyancing on leasehold maisonettes normally necessitates the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.

I bought a basement flat in Kirton in Lindsey, conveyancing having been completed in 1996. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Kirton in Lindsey with a long lease are worth £252,000. The ground rent is £60 per annum. The lease runs out on 21st October 2079

With 54 years remaining on your lease we estimate the price of your lease extension to be between £32,300 and £37,400 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Kirton in Lindsey