I am in need of some leasehold conveyancing in Montacute. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Montacute - 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 have just started marketing my basement apartment in Montacute.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – Do I pay up?

The sensible thing to do is 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 management companies 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 seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Montacute. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Montacute ?

The majority of houses in Montacute are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Montacute in which case you should be looking for a Montacute conveyancing practitioner and check that they are used to dealing with 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 comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Montacute where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Montacute conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have 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 before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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.

If all goes to plan we aim to complete the sale of our £275000 apartment in Montacute next week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Montacute?

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

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

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Montacute leasehold premises is £350. For Montacute 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 required to provide answers.

Montacute Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

Who are the managing agents? It would be wise to find out as much as possible concerning the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the tidiness of the common parts. Ask other tenants if they are happy with them. Finally, find out the dates that the maintenance charges are due to the managing agents and specifically what you get for your money. How is the lease structured?

Other Topics

Lease Extensions in Montacute