I have just started marketing my basement flat in Studley.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – Do I pay up?

The sensible thing to do is pay the service charge 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Studley. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Studley ?

The majority of houses in Studley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Studley so you should seriously consider looking for a Studley conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold flat in Studley. Conveyancing and Chelsea Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Studley who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Studley conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a long established estate agent office in Studley where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Studley conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 purchaser.

If all goes to plan we aim to complete the disposal of our £300000 flat in Studley in just under a week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Studley?

For the majority of leasehold sales in Studley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Studley
• 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 Studley leasehold property is £350. For Studley 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.

Leasehold Conveyancing in Studley - A selection of Queries Prior to Purchasing

Plenty Studley leasehold apartments will incur a service charge for the upkeep of the block levied by the landlord. Where you purchase the apartment you will have to meet this contribution, usually quarterly during the year. This may be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met yearly, this is usually not a large sum, say around £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds. What restrictions are there in the Studley Lease? Please note that where the lease has less than 80 years it will affect the salability of the property. It is worth checking with your bank that they are happy with the length of the lease. A short lease means that you will most likely need a lease extension at some point and it is worth discovering how much this would cost. Remember, in most cases you will be required to have owned the premises for a couple of years before you are eligible to extend the lease.

Other Topics

Lease Extensions in Studley