Frequently asked questions relating to New Brighton leasehold conveyancing
Estate agents have just been given the go-ahead to market my ground floor apartment in New Brighton.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 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 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.
Back In 2003, I bought a leasehold flat in New Brighton. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in New Brighton who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a New Brighton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to appointing a New Brighton conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a New Brighton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non New Brighton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
All being well we will complete our sale of a £325000 maisonette in New Brighton next week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in New Brighton?
New Brighton conveyancing on leasehold maisonettes usually necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.
In relation to leasehold conveyancing in New Brighton what are the most common lease defects?
Leasehold conveyancing in New Brighton is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair 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
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
Leasehold Conveyancing in New Brighton - Examples of Queries Prior to Purchasing
-
Is the freehold reversion owned jointly by the tenants?
Does the lease have onerous restrictions?
It would be wise to find out as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to practical matters like the cleanliness of the common parts. You should not be shy to ask other tenants what they think of them. Finally, investigate as to the dates that the maintenance fees are due to the managing agents and precisely what it includes.
Other Topics