Experts for Leasehold Conveyancing in South Sutton

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Recently asked questions relating to South Sutton leasehold conveyancing

I am on look out for some leasehold conveyancing in South Sutton. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in South Sutton - 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 South Sutton.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – Do I pay up?

It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold property in South Sutton. Am I liable to pay service charges for periods before completion of my purchase?

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. 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).

Can you provide any top tips for leasehold conveyancing in South Sutton from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in South Sutton can be bypassed if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
  • The majority landlords or Management Companies in South Sutton levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in South Sutton.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? South Sutton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the paperwork in place do not contact the landlord without contacting your solicitor in the first instance.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. 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 £175000 garden flat in South Sutton next week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in South Sutton?

    South Sutton conveyancing on leasehold maisonettes often involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to sell the property.

    South Sutton Conveyancing for Leasehold Flats - Sample of Queries before buying

      You will want to find out as much as possible concerning the company managing the building as they will either make life much simpler or problematic. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to practical matters such as the upkeep of the communal areas. Don't be afraid to ask other tenants whether they are happy with them. In conclusion, be sure you know the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money. Plenty South Sutton leasehold apartments will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the landlord. If you acquire the apartment you will have to meet this liability, usually periodically throughout the year. This can differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay yearly, normally this is not a significant sum, say about £25-£75 but you should to enquire as sometimes it could be surprisingly expensive. Please note if it is fewer than 80 years it will affect the marketability of the property. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension at some point and it is worth discovering how much this would cost. For most South Suttonlease extensions you will be required to have owned the residence for 24 months in order to be entitled to extend the lease.

    Other Topics

    Lease Extensions in South Sutton