Estate agents have just been given the go-ahead to market my ground floor apartment in Presteigne.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – Do I pay up?

It best that you clear 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 unless 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.

My wife and I purchased a leasehold house in Presteigne. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Presteigne who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to instruct a Presteigne conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Presteigne. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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. 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).

Do you have any top tips for leasehold conveyancing in Presteigne from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Presteigne can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Presteigne leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the consents in place do not communicate with the landlord without checking with your solicitor before hand.

What are the frequently found defects that you see in leases for Presteigne properties?

There is nothing unique about leasehold conveyancing in Presteigne. All leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Royal Bank of Scotland, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

I bought a leasehold flat in Presteigne, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Presteigne with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2082

With 57 years unexpired the likely cost is going to range between £25,700 and £29,600 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Presteigne