Estate agents have just been given the go-ahead to market my 2 bed apartment in Sacriston.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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 attracted to a two maisonettes in Sacriston both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Sacriston. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable 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 may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

I am employed by a busy estate agency in Sacriston where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Sacriston conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

All being well we will complete our sale of a £150000 flat in Sacriston in just under a week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sacriston?

Sacriston conveyancing on leasehold flats normally involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They may levy 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 cases it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.

Are there common deficiencies that you encounter in leases for Sacriston properties?

Leasehold conveyancing in Sacriston is not unique. Most leases are unique and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• 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

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

Sacriston Conveyancing for Leasehold Flats - A selection of Queries before buying

It would be prudent to investigate if the the lease includes any adverse restrictions in the lease. For example some leases prohibit pets being permitted in certain buildings in Sacriston. If you like the apartmentin Sacriston yet your dog can’t make the move with you then you have a very hard determination. What is the the remaining lease term? How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in Sacriston