Fixed-fee leasehold conveyancing in Mosborough:

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Top Five Questions relating to Mosborough leasehold conveyancing

My fiance and I may need to let out our Mosborough ground floor flat temporarily due to a career opportunity. We instructed a Mosborough conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

The lease governs the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Mosborough do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I’m about to sell my 2 bed flat in Mosborough.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 own a leasehold flat in Mosborough. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Mosborough who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Mosborough conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Mosborough. Am I liable to pay 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Do you have any top tips for leasehold conveyancing in Mosborough from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Mosborough can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
  • The majority freeholders or Management Companies in Mosborough levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Mosborough.
  • A minority of Mosborough leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Organising a new share certificate is often a lengthy process and frustrates many a Mosborough home move. If a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Mosborough Leasehold Conveyancing - A selection of Queries before Purchasing

      Plenty Mosborough leasehold flats will have a service bill for the upkeep of the building levied on behalf of the freeholder. If you buy the flat you will have to meet this liability, normally periodically accross the year. This could be anything from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a significant sum, say about £25-£75 but you need to enquire as on occasion it can be prohibitively expensive. How much is the ground rent and service charge? Does the lease have onerous restrictions?

    Other Topics

    Lease Extensions in Mosborough