Fixed-fee leasehold conveyancing in West Bridgford:

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Examples of recent questions relating to leasehold conveyancing in West Bridgford

I have just started marketing my ground floor flat in West Bridgford.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?

It best that you pay the service charge 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.

My wife and I purchased a leasehold house in West Bridgford. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in West Bridgford who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a West Bridgford conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agent office in West Bridgford where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local West Bridgford conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible 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 purchaser.

Can you offer any advice when it comes to appointing a West Bridgford conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a West Bridgford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non West Bridgford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • If they are not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in West Bridgford from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in West Bridgford can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
    • The majority freeholders or managing agents in West Bridgford charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in West Bridgford.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? West Bridgford leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you dont have the approvals in place do not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of West Bridgford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.

    • West Bridgford Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

      You will want to find out as much as you can concerning the company managing the block as they will either make your life much easier or problematic. 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 communal areas. Don't be shy to ask other people what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. Is anyone aware of any major works anticipated that could add a premium to the maintenance charges? The best form of lease structure is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is frequently employed where it is bigger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in West Bridgford