Having had my offer accepted I require leasehold conveyancing in Maxton. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and most are in Maxton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Maxton. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Maxton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Maxton in which case you should be shopping around for a Maxton conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

Can you provide any top tips for leasehold conveyancing in Maxton with the purpose of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Maxton can be bypassed where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
• Many landlords or Management Companies in Maxton levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Maxton.

In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Maxton leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such works. If you fail to have the consents to hand you should not contact the landlord without checking with your solicitor before hand.

Some Maxton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.

If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a lengthy formality and frustrates many a Maxton home move. Where a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

We expect to complete the disposal of our £275000 flat in Maxton on Monday in a week. The management company has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Maxton?

Maxton conveyancing on leasehold flats ordinarily involves fees being raised by managing agents :

• Addressing pre-contract questions
• Where consent is required before sale in Maxton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Maxton leasehold property is £350. For Maxton 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.

Are there frequently found problems that you come across in leases for Maxton properties?

Leasehold conveyancing in Maxton is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Coventry Building Society, and Godiva Mortgages Ltd all have very detailed 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 grant the mortgage, obliging the buyer to withdraw.

Maxton Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

You should want to discover as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the tidiness of the common parts. Don't be afraid to ask other people whether they are happy with them. In conclusion, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes. Are any of leasehold owners in dispute over their service charge liability? Be sure to discover if there are any onerous restrictions in the lease. By way of example it is reasonably common in Maxton leases that pets are not permitted in certain buildings in Maxton. If you love the propertyin Maxton however your cat can’t make the move with you then you will be faced hard compromise.

Other Topics

Lease Extensions in Maxton