Leasehold Conveyancing in Parkstone - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Parkstone, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Top Five Questions relating to Parkstone leasehold conveyancing

I have just appointed agents to market my basement flat in Parkstone.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – Do I pay up?

The sensible thing to do is 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 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 am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Parkstone. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Parkstone ?

The majority of houses in Parkstone 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. it is apparent that you are buying in Parkstone in which case you should be looking for a Parkstone conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

My wife and I purchased a leasehold house in Parkstone. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Parkstone who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Parkstone conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Parkstone with the intention of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Parkstone can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers solicitors.
  • The majority freeholders or Management Companies in Parkstone charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Parkstone.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate is often a lengthy formality and slows down many a Parkstone home move. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 garden flat in Parkstone next week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Parkstone?

    Parkstone conveyancing on leasehold apartments usually involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Parkstone Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

      How many years remain on the lease? Who takes responsibility for maintaining and repairing the block? It is important to be aware whether changing the roof or some other significant cost is anticipated that will be shared between the leaseholders and may well materially increase the the service charges or necessitate a specific payment.

    Other Topics

    Lease Extensions in Parkstone