I am on look out for some leasehold conveyancing in Nuthall. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Nuthall - 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 2 bed flat in Nuthall.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you 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 management companies will not acknowledge the buyer until 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've recently bought a leasehold property in Nuthall. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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).

We expect to complete the disposal of our £325000 apartment in Nuthall next week. The freeholder has quoted £372 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Nuthall?

Nuthall conveyancing on leasehold maisonettes normally involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

When it comes to leasehold conveyancing in Nuthall what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Nuthall. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Skipton Building Society, and Britannia all have very detailed 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 buyer to pull out.

Nuthall Leasehold Conveyancing - A selection of Queries before Purchasing

You will want 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 from a financial perspective and when it comes to day to day issues like the tidiness of the communal areas. You should not be afraid to ask other people if they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. Is anyone aware of any major works in the planning that will likely add a premium to the service costs? What restrictions exist in the Nuthall Lease?

Other Topics

Lease Extensions in Nuthall