I have just appointed agents to market my garden flat in Stotfold.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – Do I pay up?

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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Stotfold. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Stotfold are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Stotfold so you should seriously consider shopping around for a Stotfold conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

I own a leasehold house in Stotfold. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Stotfold who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Stotfold conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Stotfold from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Stotfold can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers representatives.
• Many landlords or managing agents in Stotfold charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Stotfold.

In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Stotfold state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer first.

Some Stotfold leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.

If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to 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 better to present the dispute as historic as opposed to unsettled.

Completion in due on the sale of our £400000 maisonette in Stotfold next week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Stotfold?

Stotfold conveyancing on leasehold maisonettes typically necessitates fees being raised by managing agents :

• Completing pre-contract questions
• Where consent is required before sale in Stotfold
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Stotfold leasehold premises is £350. For Stotfold 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 obliged to provide the information.

Stotfold Leasehold Conveyancing - Sample of Queries Prior to buying

If a Stotfold lease has no more than eighty years it will affect the value of the flat. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for 24 months before you are entitled to exercise a lease extension. How is the lease structured? Please tell me if there are any major works on the horizon that will likely add a premium to the maintenance costs?

Other Topics

Lease Extensions in Stotfold