Due to complete next month on a ground floor flat in Tewkesbury. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

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

I’m about to sell my 2 bed flat in Tewkesbury.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge 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 unless 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 house in Tewkesbury. 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 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).

If all goes to plan we aim to complete our sale of a £300000 flat in Tewkesbury in 5 days. The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Tewkesbury?

Tewkesbury conveyancing on leasehold apartments more often than not necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

What are the common problems that you come across in leases for Tewkesbury properties?

There is nothing unique about leasehold conveyancing in Tewkesbury. All leases is drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

I purchased a 1 bedroom flat in Tewkesbury, conveyancing having been completed 2000. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Tewkesbury with an extended lease are worth £186,000. The ground rent is £60 levied per year. The lease ends on 21st October 2095

You have 69 years left to run the likely cost is going to range between £8,600 and £9,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Tewkesbury