Fixed-fee leasehold conveyancing in Wolverhampton:

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When it comes to leasehold conveyancing in Wolverhampton, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , Birmingham Midshires or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Wolverhampton conveyancing lawyer with our search tool

Questions and Answers: Wolverhampton leasehold conveyancing

Estate agents have just been given the go-ahead to market my garden apartment in Wolverhampton.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is 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. This will smooth the conveyancing process.

Last month I purchased a leasehold flat in Wolverhampton. 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 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. 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 provide any top tips for leasehold conveyancing in Wolverhampton with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Wolverhampton can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • The majority landlords or managing agents in Wolverhampton levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to 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 frustration in leasehold conveyancing in Wolverhampton.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled 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 may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate is often a lengthy formality and delays many a Wolverhampton conveyancing transaction. If a new share certificate is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on the disposal of our £250000 flat in Wolverhampton next Monday . The management company has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Wolverhampton?

    Wolverhampton conveyancing on leasehold apartments usually requires the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They may charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    What makes a Wolverhampton lease unmortgageable?

    Leasehold conveyancing in Wolverhampton is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

    Wolverhampton Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

      Its a good idea to discover as much as possible about the company managing the building as they can either make living at the property much easier or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters such as the upkeep of the communal areas. Enquire of other tenants whether they are happy with their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. It would be a good idea to enquire if the the lease contains any adverse restrictions in the lease. By way of example it is fairly common in Wolverhampton leases that pets are not permitted in certain buildings in Wolverhampton. If you like the flatin Wolverhampton but your cat can’t live with you then you will be presented with a hard determination. Are any of leasehold owners in dispute over their service charge liability?

    Other Topics

    Lease Extensions in Wolverhampton