Due to sign contracts shortly on a ground floor flat in Market Weighton. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Market Weighton should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

Back In 2003, I bought a leasehold house in Market Weighton. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Market Weighton who previously acted has now retired.What should I do?

First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Market Weighton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Market Weighton. 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

We expect to complete the disposal of our £200000 apartment in Market Weighton in 8 days. The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Market Weighton?

Market Weighton conveyancing on leasehold maisonettes often necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

When it comes to leasehold conveyancing in Market Weighton what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Market Weighton. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I invested in buying a leasehold flat in Market Weighton, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Market Weighton with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2091

With just 67 years unexpired the likely cost is going to be between £13,300 and £15,400 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Market Weighton