Guaranteed fixed fees for Leasehold Conveyancing in Rowen

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When it comes to leasehold conveyancing in Rowen, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or NatWest make sure you choose a lawyer on their panel. Find a Rowen conveyancing lawyer with our search tool

Common questions relating to Rowen leasehold conveyancing

I have just started marketing my basement apartment in Rowen.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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 am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Rowen. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Rowen ?

Most houses in Rowen are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Rowen in which case you should be shopping around for a Rowen conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.

Last month I purchased a leasehold property in Rowen. Do I have any liability for 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. 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).

I am a negotiator for a long established estate agency in Rowen where we have experienced a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Rowen conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

Can you provide any advice for leasehold conveyancing in Rowen from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Rowen can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
  • The majority freeholders or Management Companies in Rowen levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Rowen.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Rowen state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such alterations. If you fail to have the approvals in place do not communicate with the landlord without checking with your conveyancer before hand.
  • A minority of Rowen leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay 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 details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.

    • Leasehold Conveyancing in Rowen - A selection of Questions you should ask before Purchasing

      The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this situation the leaseholders have control and even though a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Is the freehold reversion owned collectively by the leaseholders? Plenty Rowen leasehold flats will incur a service charge for maintenance of the building set by the landlord. Should you purchase the apartment you will have to meet this liability, normally periodically throughout the year. This can vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met yearly, normally this is not a exorbitant sum, say around £25-£75 but you need to check as sometimes it can be prohibitively expensive.

    Other Topics

    Lease Extensions in Rowen