Experts for Leasehold Conveyancing in Neston

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Neston, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Neston leasehold conveyancing: Q and A’s

Expecting to exchange soon on a basement flat in Neston. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

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

  • The physical extent of the property. This will be the flat itself but may include a roof space or cellar if applicable.
  • Defining your legal entitlements in respect of common areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Neston please enquire of your lawyer in advance of your conveyancing in Neston

    • I've recently bought a leasehold flat in Neston. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

    I am employed by a long established estate agent office in Neston where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Neston conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process 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 commence 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.

    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 buyer.

    What advice can you give us when it comes to choosing a Neston conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Neston conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Neston conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Neston who can give a testimonial?

    • In relation to leasehold conveyancing in Neston what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Neston. Most leases are individual and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

    Neston Conveyancing for Leasehold Flats - Sample of Queries before buying

      Who are the managing agents? How many years remain on the lease? Plenty Neston leasehold flats will be liable to pay a service charge for maintenance of the block levied by the management company. Where you acquire the apartment you will have to meet this charge, normally in instalments accross the year. This could be anything from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, this is usually not a significant amount, say approximately £25-£75 but you should to check it because occasionally it could be surprisingly expensive.

    Other Topics

    Lease Extensions in Neston