Experts for Leasehold Conveyancing in Skipton

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Examples of recent questions relating to leasehold conveyancing in Skipton

I have just started marketing my ground floor apartment in Skipton.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – Do I pay up?

It best that you pay 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 unless 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 own a leasehold flat in Skipton. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Skipton who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Skipton conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to appointing a Skipton conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Skipton conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Skipton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

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

    • A significant proportion of the delay in leasehold conveyancing in Skipton can be avoided if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Skipton charge for supplying 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 on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Skipton.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Skipton conveyancing deal. Where a duplicate share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • 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 conveyancer will be unlikely to recommend their client to where the remaining number of years 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.

    • If all goes to plan we aim to complete the disposal of our £450000 garden flat in Skipton next week. The management company has quoted £360 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Skipton?

    Skipton conveyancing on leasehold flats normally necessitates the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I own a 1 bedroom flat in Skipton, conveyancing formalities finalised in 2008. How much will my lease extension cost? Similar properties in Skipton with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2091

    With only 66 years remaining on your lease we estimate the premium for your lease extension to be between £13,300 and £15,400 plus legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Skipton