Estate agents have just been given the go-ahead to market my ground floor apartment in New Invention.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in New Invention. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in New Invention ?

Most houses in New Invention are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in New Invention so you should seriously consider looking for a New Invention conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of maisonettes in New Invention both have in the region of 50 years left on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to finding a New Invention conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a New Invention conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non New Invention conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425000 maisonette in New Invention on Wednesday in a week. The freeholder has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in New Invention?

New Invention conveyancing on leasehold flats more often than not involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.

New Invention Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

It is important to be aware if window replacement or some other significant cost is due shortly that will be shared amongst the leaseholders and will dramatically increase the the maintenance charges or necessitate a one off payment. On the whole the outlay for major works tend not to be included within service charges, although some managing agents in New Invention require tenants to pay into a reserve fund and this is used to offset against larger repairs or maintenance. How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in New Invention