I’m about to sell my 2 bed apartment in Redland.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – Do I pay up?

It best that you discharge 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. This will smooth the conveyancing process.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Redland. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Redland ?

The majority of houses in Redland are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Redland in which case you should be shopping around for a Redland conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

I own a leasehold house in Redland. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Redland who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Redland conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, 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 Redland both have in the region of 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Redland. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to appointing a Redland conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Redland conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Redland conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

I invested in buying a split level flat in Redland, conveyancing formalities finalised 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Redland with over 90 years remaining are worth £205,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2100

With just 76 years left to run the likely cost is going to be between £9,500 and £11,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Redland