Sample questions relating to Slough leasehold conveyancing
Estate agents have just been given the go-ahead to market my 2 bed apartment in Slough.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 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've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Slough. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Slough are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Slough in which case you should be looking for a Slough conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
Back In 2004, I bought a leasehold flat in Slough. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Slough who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Slough conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two flats in Slough both have approximately forty five years unexpired on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Last month I purchased a leasehold flat in Slough. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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 be sure 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).
Leasehold Conveyancing in Slough - A selection of Questions you should consider before Purchasing
Please inform me if there are any major works on the horizon that will add a premium to the maintenance fees?
It would be prudent to investigate if there is anything that is prohibited in the lease. For instance it is reasonably common in Slough leases that pets are not allowed in certain buildings in Slough. If you love the flatin Slough however your dog is not allowed to live with you then you have a very hard determination.
It is important to be aware if fixing the lift or some other significant cost is pending to be shared between the leaseholders and will materially impact the level of the maintenance fees or require a one time invoice.