I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Silverton. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Silverton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Silverton in which case you should be shopping around for a Silverton conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I own a leasehold house in Silverton. Conveyancing and Lloyds TSB Bank mortgage are in place. 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 1998. The conveyancing practitioner in Silverton who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Silverton conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Silverton. Do I have any liability for service charges for periods before my ownership?

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. It is an essential part 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).

All being well we will complete the sale of our £200000 maisonette in Silverton next Friday . The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Silverton?

Silverton conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.

What makes a Silverton lease problematic?

Leasehold conveyancing in Silverton is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd 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 is problematic they may refuse to provide security, forcing the purchaser to withdraw.

Silverton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

This information is important as a) areas can result in problems for the building as the communal areas may start to deteriorate if services remain unpaid b) if the tenants have an issue with the managing agents you will want to know about it Please note that where the lease has no more than eighty years it will affect the value of the flat. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this will be. For most Silvertonlease extensions you will be required to have owned the property for two years before you are entitled to extend the lease. What is the name of the managing agents?

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Lease Extensions in Silverton