Estate agents have just been given the go-ahead to market my basement flat in Rumney.Conveyancing has not commenced but I have just had a quarterly service charge demand – what should I do?

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

I am attracted to a couple of flats in Rumney which have about fifty years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to finding a Rumney conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Rumney conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Rumney conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?
• What are the charges for lease extension conveyancing?

Completion in due on the sale of our £ 250000 maisonette in Rumney in nine days. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Rumney?

Rumney conveyancing on leasehold maisonettes more often than not involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

In relation to leasehold conveyancing in Rumney what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Rumney. All leases are individual and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

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. Accord Mortgages Ltd, Chelsea Building Society, and Platform Home Loans Ltd all have express 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 provide security, obliging the purchaser to pull out.

Rumney Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Is anyone aware of any major works in the planning that will likely increase the maintenance charges? Its a good idea to find out as much as possible regarding the managing agents as they can either make your life much easier or problematic. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to day to day issues such as the cleanliness of the common parts. Ask other tenants what they think of them. Finally, find out the dates that the maintenance charges are due to the managing agents and precisely what you get for your money.