Due to complete next month on a studio apartment in Wellingborough. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Wellingborough should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Wellingborough. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Wellingborough ?

The majority of houses in Wellingborough are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Wellingborough in which case you should be shopping around for a Wellingborough conveyancing solicitor and check that they have experience in transacting 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 requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

Back In 2003, I bought a leasehold flat in Wellingborough. Conveyancing and Halifax mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Wellingborough who acted for me is not around.What should I do?

First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Wellingborough conveyancing lawyer to do this as you can do this on the Land Registry website 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.

Last month I purchased a leasehold property in Wellingborough. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part 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).

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £375000 apartment in Wellingborough next week. The landlords agents has quoted £360 for Landlord’s certificate, 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 Wellingborough?

Wellingborough conveyancing on leasehold flats often involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, 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 relation to administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.

Leasehold Conveyancing in Wellingborough - A selection of Queries Prior to buying

What is the the remaining lease term? Be sure to discover if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in certain buildings in Wellingborough. If you love the flatin Wellingborough but your cat can’t make the move with you then you have a very difficult decision. The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the tenants benefit from control and even though a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Wellingborough