Having had my offer accepted I require leasehold conveyancing in Sharnbrook. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Sharnbrook - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just started marketing my garden apartment in Sharnbrook.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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. This will smooth the conveyancing process.

I've recently bought a leasehold flat in Sharnbrook. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you provide any advice for leasehold conveyancing in Sharnbrook with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Sharnbrook can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
• The majority landlords or managing agents in Sharnbrook levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for 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 cause of delay in leasehold conveyancing in Sharnbrook.

If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Sharnbrook state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the paperwork in place do not contact the landlord without checking with your solicitor before hand.

Some Sharnbrook leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.

You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete our sale of a £175000 flat in Sharnbrook on Monday in a week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sharnbrook?

Sharnbrook conveyancing on leasehold maisonettes nine out of ten times involves administration charges invoiced by management companies :

• Answering pre-exchange questions
• Where consent is required before sale in Sharnbrook
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Sharnbrook leasehold property is £350. For Sharnbrook conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

Leasehold Conveyancing in Sharnbrook - Sample of Questions you should consider Prior to Purchasing

In the main the cost for major works are not included within maintenance charges, although a few managing agents in Sharnbrook ask tenants to pay into a sinking fund and this is used to offset against major works. The best form of lease structure is a share of the freehold. In this situation the lessees have control and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. The answer will be important as a) areas can result in problems for the block as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will need to have complete disclosure

Other Topics

Lease Extensions in Sharnbrook