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Sandy leasehold conveyancing: Q and A’s

Planning to complete next month on a ground floor flat in Sandy. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Sandy should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • The total extent of the premises. This will be the property itself but could also include a loft or cellar if appropriate.
  • Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease grant a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from letting out the flat, or working from home
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Sandy please ask your lawyer in advance of your conveyancing in Sandy

  • Back In 2008, I bought a leasehold house in Sandy. Conveyancing and TSB mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Sandy who acted for me is not around.Do I pay?

    The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Sandy conveyancing practitioner to do this as it can be done on-line for a few pound. You should note 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.

    Do you have any advice for leasehold conveyancing in Sandy with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Sandy 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.
    • Many landlords or managing agents in Sandy charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Sandy.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Sandy state that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such changes. If you fail to have the consents in place do not contact the landlord without checking with your conveyancer in the first instance.
  • A minority of Sandy leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.

  • All being well we will complete our sale of a £175000 garden flat in Sandy on Friday in a week. The managing agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sandy?

    Sandy conveyancing on leasehold flats usually involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    What makes a Sandy lease unacceptable for security purposes?

    Leasehold conveyancing in Sandy is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • 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

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Bank of Ireland all have very detailed 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 buyer to pull out.

    Sandy Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

      Many Sandy leasehold flats will be liable to pay a service bill for the upkeep of the block levied on behalf of the freeholder. Should you buy the property you will have to meet this liability, usually periodically accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a significant figure, say around £50-£100 but you should to check as on occasion it could be prohibitively expensive. Is the freehold reversion owned jointly by the tenants? Make sure you find out if there are any onerous prohibitions in the lease. For example it is reasonably common in Sandy leases that pets are not allowed in certain buildings in Sandy. If you like the apartmentin Sandy however your dog can’t make the move with you then you have a very hard choice.

    Other Topics

    Lease Extensions in Sandy