Frequently asked questions relating to Wavertree leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Wavertree. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Wavertree - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I’m about to sell my ground floor flat in Wavertree.Conveyancing has not commenced but I have just had a yearly service charge invoice – Do I pay up?
The sensible thing to do is 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. This will smooth the conveyancing process.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Wavertree. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Wavertree ?
Most houses in Wavertree are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Wavertree in which case you should be looking for a Wavertree conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.
Back In 2007, I bought a leasehold house in Wavertree. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Wavertree who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Wavertree conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to choosing a Wavertree conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Wavertree conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Wavertree conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
Wavertree Leasehold Conveyancing - Sample of Queries before Purchasing
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Plenty Wavertree leasehold properties will incur a service bill for maintenance of the block invoiced on behalf of the landlord. If you buy the apartment you will have to pay this charge, usually quarterly accross the year. This may be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a ground rent to be met yearly, normally this is not a significant amount, say around £50-£100 but you need to check it because occasionally it could be prohibitively expensive.
How much is the ground rent and service charge?
You should want to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the upkeep of the common parts. You should not be afraid to ask other tenants what they think of them. Finally, be sure you know the dates that the service charges are due to the managing agents and specifically how they are spending the funds.
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