Fixed-fee leasehold conveyancing in Nannerch:

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Nannerch leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Nannerch. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Nannerch - 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 appointed agents to market my ground floor flat in Nannerch.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents 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. This will smooth the conveyancing process.

I am looking at a two apartments in Nannerch which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Nannerch. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Nannerch with the intention of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Nannerch can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers representatives.
  • A minority of Nannerch leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Organising a replacement share certificate can be a lengthy process and delays many a Nannerch home move. If a new share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • We expect to complete the disposal of our £425000 maisonette in Nannerch next Wednesday . The managing agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Nannerch?

    Nannerch conveyancing on leasehold maisonettes usually requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. 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 sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to sell the property.

    Nannerch Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing

      Does the lease have onerous restrictions? Generally speaking the outlay for major works tend not to be incorporated into the service charges, albeit that there some managing agents in Nannerch obliged leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger works. It is important to be aware whether fixing the lift or some other major work is due shortly that will be shared amongst the leaseholders and will materially impact the level of the service fees or result in a one time invoice.

    Other Topics

    Lease Extensions in Nannerch