I have just started marketing my ground floor apartment in Saltash.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – Do I pay up?

It best that you pay 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.

Last month I purchased a leasehold house in Saltash. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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).

What are your top tips when it comes to appointing a Saltash conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Saltash conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Saltash conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• Can they put you in touch with client in Saltash who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

Can you provide any advice for leasehold conveyancing in Saltash with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Saltash can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• The majority landlords or managing agents in Saltash levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Saltash.
• A minority of Saltash leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice 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 yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the freehold, you should ensure that you hold the original share document. Obtaining a new share certificate is often a time consuming process and frustrates many a Saltash conveyancing transaction. Where a reissued share is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

Are there frequently found problems that you encounter in leases for Saltash properties?

There is nothing unique about leasehold conveyancing in Saltash. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• 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 could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I inherited a garden flat in Saltash, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Saltash with a long lease are worth £196,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2090

With only 64 years remaining on your lease we estimate the premium for your lease extension to range between £17,100 and £19,800 as well as legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.