Tilehurst leasehold conveyancing: Q and A’s
Looking forward to complete next month on a studio apartment in Tilehurst. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Tilehurst should include some of the following:
- You must be told what constitutes a Nuisance in the lease
Estate agents have just been given the go-ahead to market my basement apartment in Tilehurst.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay 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 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 own a leasehold flat in Tilehurst. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Tilehurst who previously acted has long since retired.Any advice?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Tilehurst conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
If all goes to plan we aim to complete the disposal of our £400000 garden flat in Tilehurst in seven days. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Tilehurst?
Tilehurst conveyancing on leasehold maisonettes normally necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
What are the common defects that you see in leases for Tilehurst properties?
Leasehold conveyancing in Tilehurst is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
Tilehurst Leasehold Conveyancing - Sample of Queries Prior to buying
Who takes charge for maintaining and repairing the block?
Be sure to find out if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Tilehurst. If you love the apartmentin Tilehurst however your cat is not allowed to live with you then you will be faced difficult choice.
Best to be warned whether a new roof is being put on or some other major work is coming up to be shared by the leaseholders and will materially impact the level of the service costs or result in a one off payment.