Guaranteed fixed fees for Leasehold Conveyancing in Rothbury

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When it comes to leasehold conveyancing in Rothbury, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Rothbury leasehold conveyancing

Last month I purchased a leasehold flat in Rothbury. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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 ensure 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 choosing a Rothbury conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Rothbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Rothbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

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

    • Do you have any advice for leasehold conveyancing in Rothbury from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Rothbury can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Rothbury charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have 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 delay in leasehold conveyancing in Rothbury.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a time consuming formality and slows down many a Rothbury conveyancing transaction. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 flat in Rothbury in just under a week. The management company has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Rothbury?

    Rothbury conveyancing on leasehold apartments usually involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

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

    There is nothing unique about leasehold conveyancing in Rothbury. All leases are unique and drafting errors can result in certain sections are not included. 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 building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and Nottingham Building Society all have very detailed requirements 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, obliging the buyer to withdraw.

    Rothbury Leasehold Conveyancing - Sample of Queries Prior to Purchasing

      The answer will be useful as a) areas may result in problems in the building as the communal areas may begin to deteriorate where services remain unpaid b) if the tenants have a dispute with the managing agents you will need to have all the details Are any of leasehold owners in arrears of their service charge liability? What restrictions are there in the Rothbury Lease?

    Other Topics

    Lease Extensions in Rothbury