Planning to exchange soon on a ground floor flat in Mitcheldean. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

I have just appointed agents to market my 2 bed apartment in Mitcheldean.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?

It best that you discharge the invoice 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Mitcheldean. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Mitcheldean ?

Most houses in Mitcheldean 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 Mitcheldean in which case you should be looking for a Mitcheldean conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I am employed by a busy estate agency in Mitcheldean where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Mitcheldean conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400000 maisonette in Mitcheldean next week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Mitcheldean?

Mitcheldean conveyancing on leasehold maisonettes normally involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Mitcheldean Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

Plenty Mitcheldean leasehold apartments will have a service charge for the upkeep of the building levied by the freeholder. If you acquire the property you will have to meet this charge, usually quarterly throughout the year. This may vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent for you to pay annual, this is usually not a large figure, say around £50-£100 but you need to check as on occasion it could be many hundreds of pounds. How is the lease structured? Who manages the building?

Other Topics

Lease Extensions in Mitcheldean