I have just started marketing my ground floor flat in Poundbury.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – Do I pay up?

It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.

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 subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Poundbury. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Poundbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Poundbury so you should seriously consider looking for a Poundbury conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

What are your top tips when it comes to finding a Poundbury conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Poundbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Poundbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

Can they put you in touch with client in Poundbury who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Poundbury from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Poundbury can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
• The majority freeholders or managing agents in Poundbury charge for providing 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 on or before finding 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 frequent cause of frustration in leasehold conveyancing in Poundbury.

A minority of Poundbury leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their lawyers.

If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a lengthy process and delays many a Poundbury home move. If a new share is required, do contact the company director and secretary or managing agents (if 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 purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease term 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 our sale of a £200000 garden flat in Poundbury in nine days. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Poundbury?

Poundbury conveyancing on leasehold flats typically necessitates fees being raised by landlords agents :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Poundbury
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Poundbury leasehold premises is £350. For Poundbury 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 obliged to provide answers.

Leasehold Conveyancing in Poundbury - Examples of Queries Prior to buying

What is the the remaining lease term? How much is the service charge and ground rent on the flat? It would be sensible to investigate if the the lease includes any onerous restrictions in the lease. By way of example it is fairly common in Poundbury leases that pets are not permitted in certain buildings in Poundbury. If you like the flatin Poundbury but your cat is not allowed to live with you then you have a very difficult choice.

Other Topics

Lease Extensions in Poundbury