Fixed-fee leasehold conveyancing in Peak District:

When it comes to leasehold conveyancing in Peak District, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Peak District conveyancing lawyer with our search tool

Questions and Answers: Peak District leasehold conveyancing

I have just started marketing my garden apartment in Peak District.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?

The sensible thing to do is 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. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold house in Peak District. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Peak District who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Peak District conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Peak District both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why 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 unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Peak District with the intention of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Peak District can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Peak District state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the approvals in place you should not contact the landlord without contacting your lawyer in advance.
  • A minority of Peak District leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate can be a lengthy formality and delays many a Peak District home move. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on the disposal of our £275000 apartment in Peak District next week. The freeholder has quoted £312 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 Peak District?

    Peak District conveyancing on leasehold flats often requires the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you if you want to complete the sale of your home.

    Peak District Conveyancing for Leasehold Flats - Sample of Queries before buying

      The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent retained by the leaseholders. How many of the leaseholders are in arrears for their service charge payments? Its a good idea to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily issues such as the tidiness of the communal areas. Ask other people if they are happy with their service. In conclusion, be sure you understand the dates that the maintenance fees are due to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Peak District