Due to exchange soon on a basement flat in Pound Hill. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Pound Hill should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Will you be prohibited or prevented from having pets in the property?

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames

What you can do if a neighbour breach a clause of their lease?

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Pound Hill please enquire of your conveyancer in ahead of your conveyancing in Pound Hill

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Pound Hill. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Pound Hill ?

Most houses in Pound Hill are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Pound Hill in which case you should be shopping around for a Pound Hill conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

I've recently bought a leasehold flat in Pound Hill. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

I am employed by a reputable estate agency in Pound Hill where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Pound Hill conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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 purchaser.

Completion in due on the sale of our £275000 maisonette in Pound Hill next week. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Pound Hill?

Pound Hill conveyancing on leasehold maisonettes typically necessitates administration charges invoiced by freeholders :

• Answering pre-exchange enquiries
• Where consent is required before sale in Pound Hill
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Pound Hill leasehold property is £350. For Pound Hill conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

Pound Hill Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and even though a managing agent is often employed where it is bigger than a house conversion, the managing agent retained by the leaseholders. Is anyone aware of any major works in the planning that could increase the maintenance charges? Are any of leasehold owners in dispute over their service charge liability?

Other Topics

Lease Extensions in Pound Hill