I have just appointed agents to market my ground floor apartment in Dursley.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – Do I pay up?

It best that you pay 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Dursley. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Dursley ?

Most houses in Dursley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Dursley so you should seriously consider looking for a Dursley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I own a leasehold flat in Dursley. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Dursley who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Dursley conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Dursley which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Dursley. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

Last month I purchased a leasehold flat in Dursley. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

I own a leasehold flat in Dursley, conveyancing formalities finalised in 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Dursley with an extended lease are worth £187,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2077

With just 52 years remaining on your lease the likely cost is going to range between £31,400 and £36,200 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Dursley