Planning to sign contracts shortly on a basement flat in Northallerton. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

Defining your rights in relation to common areas in the block.For instance, does the lease contain a right of way over a path or hallways?

You should be told what counts as a Nuisance in the lease

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

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Northallerton please ask your solicitor in ahead of your conveyancing in Northallerton

I have just appointed agents to market my basement flat in Northallerton.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Northallerton. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Northallerton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Northallerton in which case you should be looking for a Northallerton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being 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 freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

Last month I purchased a leasehold property in Northallerton. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

We expect to complete the sale of our £500000 maisonette in Northallerton in 8 days. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Northallerton?

For most leasehold sales in Northallerton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Northallerton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Northallerton leasehold premises is £350. For Northallerton 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 required to supply answers.

I purchased a 2 bed flat in Northallerton, conveyancing was carried out 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Northallerton with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2098

With just 73 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Northallerton