I am hoping to sign contracts shortly on a leasehold property in Merriott. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Merriott should include some of the following:

• Defining your rights in respect of common areas in the block.For example, does the lease provide for a right of way over an accessway or staircase?

My wife and I purchased a leasehold flat in Merriott. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Merriott who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Merriott conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What advice can you give us when it comes to finding a Merriott conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Merriott conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Merriott conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• What volume of lease extensions has the firm conducted in Merriott in the last year?

All being well we will complete our sale of a £500000 maisonette in Merriott in 5 days. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Merriott?

Merriott conveyancing on leasehold apartments more often than not requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded if you want to complete the sale of your home.

What makes a Merriott lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Merriott. Most leases is drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair 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, Skipton Building Society, and Barclays Direct 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 provide security, obliging the purchaser to pull out.

I purchased a split level flat in Merriott, conveyancing formalities finalised 1999. How much will my lease extension cost? Corresponding properties in Merriott with over 90 years remaining are worth £204,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2094

With 68 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Merriott