Common questions relating to Warrington leasehold conveyancing
Estate agents have just been given the go-ahead to market my garden flat in Warrington.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?
It best that you clear 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 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 today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Warrington. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Warrington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Warrington in which case you should be looking for a Warrington conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
I am tempted by the attractive purchase price for a two apartments in Warrington which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area
I've recently bought a leasehold house in Warrington. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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).
Can you offer any advice when it comes to finding a Warrington conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Warrington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Warrington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If they are not ALEP accredited then why not?
Warrington Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
Be sure to discover if the the lease includes any onerous restrictions in the lease. For instance it is fairly common in Warrington leases that pets are not allowed in certain buildings in Warrington. If you like the apartmentin Warrington yet your dog is not allowed to make the move with you then you will be faced difficult decision.
Are any of leasehold owners in dispute over their service charge payments?
Best to be warned whether fixing the lift or some other significant cost is coming up that will be shared amongst the leasehold owners and will dramatically increase the the maintenance fees or result in a specific payment.