Planning to exchange soon on a basement flat in Tedburn St Mary. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Tedburn St Mary should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Tedburn St Mary. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Tedburn St Mary are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Tedburn St Mary so you should seriously consider looking for a Tedburn St Mary conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I've recently bought a leasehold house in Tedburn St Mary. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. A critical element 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).

I am a negotiator for a busy estate agency in Tedburn St Mary where we see a few flat sales put at risk due to short leases. I have received conflicting advice from local Tedburn St Mary conveyancing solicitors. Could you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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.

We expect to complete our sale of a £225000 apartment in Tedburn St Mary on Thursday in a week. The management company has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Tedburn St Mary?

Tedburn St Mary conveyancing on leasehold maisonettes usually involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in Tedburn St Mary - A selection of Queries before buying

Does the lease have in excess of 90 years remaining? In the main the outlay for major works tend not to be incorporated into the maintenance charges, although some managing agents in Tedburn St Mary require tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Many Tedburn St Mary leasehold properties will incur a service bill for the upkeep of the building invoiced on behalf of the landlord. Where you purchase the flat you will have to meet this liability, usually quarterly during the year. This can vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge to be met annual, normally this is not a exorbitant sum, say around £50-£100 but you should to check it because on occasion it could be many hundreds of pounds.

Other Topics

Lease Extensions in Tedburn St Mary