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

When it comes to leasehold conveyancing in Perry Barr, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, RBS or Bradford & Bingley make sure you find a lawyer on their panel. Find a Perry Barr conveyancing lawyer with our search tool

Perry Barr leasehold conveyancing: Q and A’s

Estate agents have just been given the go-ahead to market my basement flat in Perry Barr.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance 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 own a leasehold house in Perry Barr. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Perry Barr who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Perry Barr conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold flat in Perry Barr. Am I liable to pay service charges for periods before completion of my purchase?

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).

Can you offer any advice when it comes to appointing a Perry Barr conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Perry Barr conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Perry Barr conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • What volume of lease extensions have they conducted in Perry Barr in the last 12 months?
  • Can they put you in touch with client in Perry Barr who can give a testimonial?

In relation to leasehold conveyancing in Perry Barr what are the most frequent lease defects?

Leasehold conveyancing in Perry Barr is not unique. Most leases are individual and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain parts of the premises
  • A duty to insure the building
  • 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

You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Chelsea Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I acquired a 2 bed flat in Perry Barr, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Perry Barr with over 90 years remaining are worth £251,000. The ground rent is £60 per annum. The lease finishes on 21st October 2095

You have 69 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.