Estate agents have just been given the go-ahead to market my 2 bed flat in Todmorden.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge 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 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 am looking at a two flats in Todmorden both have about fifty years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Todmorden with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Todmorden can be avoided where you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
• The majority freeholders or Management Companies in Todmorden charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Todmorden.

All being well we will complete the sale of our £300000 flat in Todmorden in just under a week. The freeholder has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Todmorden?

Todmorden conveyancing on leasehold maisonettes more often than not involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Are there common deficiencies that you see in leases for Todmorden properties?

There is nothing unique about leasehold conveyancing in Todmorden. Most leases are unique and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Virgin Money, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Todmorden Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

What prohibitions are there in the Todmorden Lease? On the whole the cost for major works tend not to be incorporated into the maintenance charges, although some managing agents in Todmorden require leasehold owners to contribute towards a reserve fund and this is used to offset against major repairs or maintenance. The answer will be helpful as a) areas may cause problems for the building as the common areas may begin to deteriorate if repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to know about it

Other Topics

Lease Extensions in Todmorden