I’m about to sell my garden apartment in Woodborough.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?

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 unless 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.

My wife and I purchased a leasehold flat in Woodborough. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Woodborough who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Woodborough conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, 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 attracted to a couple of maisonettes in Woodborough both have about forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Woodborough is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Woodborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold flat in Woodborough. Am I liable to pay service charges for periods before my ownership?

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 the sale of our £200000 garden flat in Woodborough next Tuesday . The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Woodborough?

Woodborough conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge levied by the landlord must be sent together with 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.

Woodborough Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

You should be aware if it is no more than 80 years it will impact the salability of the property. Check with your bank that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth discovering what this will be. For most Woodboroughlease extensions you would need to own the premises for a couple of years before you are entitled to exercise a lease extension. It would be wise to discover as much as you can about the managing agents as they will either make life much simpler or problematic. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. Don't be afraid to ask other people if they are happy with their service. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money. Most Woodborough leasehold flats will incur a service bill for maintenance of the block set by the freeholder. Where you acquire the flat you will have to meet this amount, usually in instalments throughout the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you need to check as occasionally it can be many hundreds of pounds.

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Lease Extensions in Woodborough