Guaranteed fixed fees for Leasehold Conveyancing in Skelmersdale

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Sample questions relating to Skelmersdale leasehold conveyancing

I have just started marketing my garden apartment in Skelmersdale.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – what should I do?

The sensible thing to do is 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 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.

I am looking at a two flats in Skelmersdale both have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Skelmersdale. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

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

In a situation 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. 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).

I work for a reputable estate agency in Skelmersdale where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Skelmersdale conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

Completion in due on the disposal of our £425000 garden flat in Skelmersdale in 5 days. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Skelmersdale?

Skelmersdale conveyancing on leasehold apartments normally necessitates administration charges levied by management companies :

  • Completing pre-exchange questions
  • Where consent is required before sale in Skelmersdale
  • Supplying insurance information
  • 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 Skelmersdale leasehold premises is £350. For Skelmersdale 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 the information.

Skelmersdale Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

    What is the maintenance charge and ground rent on the property? Be sure to discover if there is anything that is prohibited in the lease. By way of example it is very common in Skelmersdale leases that pets are not allowed in in a block in Skelmersdale. If you like the apartmentin Skelmersdale yet your dog can’t move with you then you will be presented with a difficult compromise. Where a Skelmersdale lease has less than eighty years it will affect the marketability of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for two years before you are eligible to exercise a lease extension.

Other Topics

Lease Extensions in Skelmersdale