I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out 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 Ormskirk. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Ormskirk ?

Most houses in Ormskirk are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ormskirk so you should seriously consider looking for a Ormskirk conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am tempted by the attractive purchase price for a couple of maisonettes in Ormskirk which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I've recently bought a leasehold flat in Ormskirk. Am I liable to pay service charges for periods before my ownership?

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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

What are your top tips when it comes to appointing a Ormskirk conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Ormskirk conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Ormskirk conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250000 garden flat in Ormskirk next Tuesday . The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ormskirk?

Ormskirk conveyancing on leasehold maisonettes usually requires the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Ormskirk - Examples of Queries Prior to buying

How many of the leaseholders are in arrears for their service charge payments? How many years remain on the lease? Be sure to enquire if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Ormskirk. If you love the propertyin Ormskirk but your cat can’t make the move with you then you have a very hard compromise.

Other Topics

Lease Extensions in Ormskirk