I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Turvey. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Turvey are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Turvey so you should seriously consider shopping around for a Turvey conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.

Last month I purchased a leasehold house in Turvey. Do I have any liability for 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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 long established estate agency in Turvey where we see a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Turvey conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

What are your top tips when it comes to appointing a Turvey conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Turvey conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Turvey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How many lease extensions have they carried out in Turvey in the last twenty four months?

Can they put you in touch with client in Turvey who can give a testimonial?

Completion in due on the disposal of our £350000 flat in Turvey in just under a week. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Turvey?

For the majority of leasehold sales in Turvey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange enquiries
• Where consent is required before sale in Turvey
• Copies of the building insurance and schedule
• 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 Turvey leasehold property is £350. For Turvey 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 required to supply answers.

Turvey Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

Who are the managing agents? What is the annual service fee and ground rent? Where a Turvey lease has fewer than eighty years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth discovering how much this will be. For most Turveylease extensions you would be be obliged to have owned the property for a couple of years before you are entitled to carry out a lease extension.

Other Topics

Lease Extensions in Turvey