Expecting to sign contracts shortly on a studio apartment in Mundesley. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

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

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

Are pets allowed in the flat?

Does the lease prevent you from letting out the property, or having a home office for business

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Whether your lease has a provision for a sinking fund?

Repair and maintenance of the flat

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Mundesley please enquire of your solicitor in ahead of your conveyancing in Mundesley

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Mundesley. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Mundesley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Mundesley in which case you should be looking for a Mundesley conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold house in Mundesley. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Mundesley who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Mundesley conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of flats in Mundesley both have approximately forty five years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Mundesley. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

We expect to complete our sale of a £225000 maisonette in Mundesley on Friday in a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Mundesley?

Mundesley conveyancing on leasehold flats normally necessitates fees being invoiced by freeholders :

• Addressing pre-exchange questions
• Where consent is required before sale in Mundesley
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

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

Leasehold Conveyancing in Mundesley - A selection of Questions you should ask Prior to buying

Be sure to discover if there is anything that is prohibited in the lease. By way of example it is very common in Mundesley leases that pets are not allowed in certain buildings in Mundesley. If you love the flatin Mundesley but your dog is not allowed to live with you then you have a very difficult decision. On the whole the outlay for major works are not included within service charges, albeit that there some managing agents in Mundesley ask leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for major works. Best to be warned if a new roof is being installed or some other significant cost is due shortly to be shared amongst the tenants and will dramatically increase the the service costs or require a specific invoice.

Other Topics

Lease Extensions in Mundesley