Sample questions relating to Ruxley leasehold conveyancing
Planning to sign contracts shortly on a ground floor flat in Ruxley. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ruxley should include some of the following:
- Are pets allowed in the flat?
I've recently bought a leasehold house in Ruxley. Do I have any liability for service charges relating to a period prior to my ownership?
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. A critical element 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).
What advice can you give us when it comes to appointing a Ruxley conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Ruxley conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Ruxley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How many lease extensions have they completed in Ruxley in the last 12 months?
Do you have any advice for leasehold conveyancing in Ruxley with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Ruxley can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers representatives.
- Many freeholders or Management Companies in Ruxley levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Ruxley.
I have had difficulty in trying to reach an agreement for a lease extension in Ruxley. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension case for a Ruxley property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
Are there common deficiencies that you see in leases for Ruxley properties?
There is nothing unique about leasehold conveyancing in Ruxley. All leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- 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 primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.