Estate agents have just been given the go-ahead to market my 2 bed flat in Runcorn.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – Do I pay up?

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 managing agents 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.

My wife and I purchased a leasehold house in Runcorn. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Runcorn who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Runcorn conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured 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 tempted by the attractive purchase price for a couple of maisonettes in Runcorn both have about 50 years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Runcorn. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Runcorn conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Runcorn conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Runcorn 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 experienced is the practice with lease extension legislation?

Can you provide any advice for leasehold conveyancing in Runcorn from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Runcorn can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Runcorn state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.

I acquired a ground floor flat in Runcorn, conveyancing was carried out 5 years ago. How much will my lease extension cost? Equivalent flats in Runcorn with a long lease are worth £248,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2093

With just 68 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

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 investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to 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 Runcorn