Top Five Questions relating to Leyland leasehold conveyancing
Estate agents have just been given the go-ahead to market my basement flat in Leyland.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – Do I pay up?
The sensible thing to do is 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 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.
Back In 2002, I bought a leasehold flat in Leyland. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Leyland who previously acted has now retired.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Leyland conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two maisonettes in Leyland both have about 50 years unexpired on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field
Do you have any advice for leasehold conveyancing in Leyland from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Leyland can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Leyland leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Where you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer in the first instance.
If all goes to plan we aim to complete the sale of our £400000 maisonette in Leyland next week. The freeholder has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Leyland?
Leyland conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.
Leyland Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
Are any of leasehold owners in arrears of their service charge liability?
Does the lease contain onerous restrictions?
It would be prudent to discover as much as you can about the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Ask prospective neighbours if they are happy with their service. On a final note, be sure you understand the dates that the service fees are due to the appropriate party and specifically what you get for your money.