I am on look out for some leasehold conveyancing in Patcham. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Patcham - 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 Patcham.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – what should I do?

It best that you discharge the invoice 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 today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Patcham. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Patcham ?

The majority of houses in Patcham are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Patcham in which case you should be shopping around for a Patcham conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.

I work for a busy estate agency in Patcham where we have experienced a few leasehold sales derailed due to short leases. I have been given inconsistent advice from local Patcham conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 maisonette in Patcham next week. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Patcham?

Patcham conveyancing on leasehold flats more often than not requires the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which 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 sell the property.

Patcham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

It is important to be aware if fixing the lift or some other major work is due in the foreseeable future that will be shared amongst the leaseholders and could well dramatically increase the the maintenance fees or necessitate a specific payment. How much is the ground rent and service charge? The majority of Patcham leasehold apartments will have a service charge for maintenance of the block levied by the freeholder. If you purchase the apartment you will have to pay this charge, usually quarterly during the year. This may be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge to be met yearly, ordinarily this is not a significant figure, say about £25-£75 but you should to check as sometimes it could be many hundreds of pounds.

Other Topics

Lease Extensions in Patcham