I have just appointed agents to market my ground floor flat in Lynmouth.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 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 appears to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Lynmouth. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Lynmouth ?

The majority of houses in Lynmouth are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Lynmouth so you should seriously consider shopping around for a Lynmouth conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee 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 conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.

What are your top tips when it comes to choosing a Lynmouth conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Lynmouth conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Lynmouth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How many lease extensions has the firm carried out in Lynmouth in the last 12 months?
• Can they put you in touch with client in Lynmouth who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Lynmouth with the aim of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Lynmouth can be reduced if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Lynmouth leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place do not contact the landlord without checking with your solicitor in advance.
• Some Lynmouth leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
• If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming process and delays many a Lynmouth conveyancing transaction. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 250000 apartment in Lynmouth next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Lynmouth?

For the majority of leasehold sales in Lynmouth conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Lynmouth
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Lynmouth leasehold property is £350. For Lynmouth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

Leasehold Conveyancing in Lynmouth - A selection of Questions you should ask before buying

If a Lynmouth lease has no more than eighty years it will affect the marketability of the flat. Check with your lender that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out how much this will be. For most Lynmouthlease extensions you will need to own the residence for two years in order to be entitled to exercise a lease extension.