Expecting to complete next month on a studio apartment in Thorpe Astley. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

The total extent of the property. This will be the flat itself but may include a roof space or basement if appropriate.

Defining your rights in relation to common areas in the block.For example, does the lease include a right of way over an accessway or hallways?

Whether the lease restricts you from letting out the flat, or having a home office for business

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

You should have a good understanding of the insurance provisions

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be included in your report on your leasehold property in Thorpe Astley please enquire of your lawyer in ahead of your conveyancing in Thorpe Astley

Estate agents have just been given the go-ahead to market my garden flat in Thorpe Astley.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?

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 management companies 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 property in Thorpe Astley. Am I liable to pay service charges for periods before my ownership?

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).

I am employed by a busy estate agency in Thorpe Astley where we have experienced a few flat sales derailed as a result of short leases. I have been given contradictory information from local Thorpe Astley conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 apartment in Thorpe Astley in just under a week. The landlords agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Thorpe Astley?

Thorpe Astley conveyancing on leasehold flats usually necessitates administration charges raised by freeholders :

• Answering pre-exchange enquiries
• Where consent is required before sale in Thorpe Astley
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Thorpe Astley leasehold property is £350. For Thorpe Astley 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 supply answers.

Thorpe Astley Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

It is important to be aware if a new roof is being put on or some other major work is due in the foreseeable future that will be shared amongst the tenants and will dramatically impact the level of the maintenance costs or necessitate a specific payment. What is the maintenance charge and ground rent on the apartment? This information is useful as a) areas may cause problems for the building as the common areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the running of the building you will wish to have full disclosure

Other Topics

Lease Extensions in Thorpe Astley