I have just appointed agents to market my basement apartment in Forest of Dean.Conveyancing is yet to be initiated but I have just had a yearly maintenance 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 managing agents 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.

My wife and I purchased a leasehold flat in Forest of Dean. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Forest of Dean who acted for me is not around.Any advice?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Forest of Dean conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Forest of Dean both have in the region of 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Forest of Dean. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

We expect to complete our sale of a £500000 garden flat in Forest of Dean next Thursday . The management company has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Forest of Dean?

Forest of Dean conveyancing on leasehold maisonettes often requires the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

Are there frequently found problems that you see in leases for Forest of Dean properties?

Leasehold conveyancing in Forest of Dean is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Forest of Dean Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

Its a good idea to discover as much as possible concerning the company managing the block as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Ask other people what they think of their service. In conclusion, find out the dates that the service fees are due to the appropriate party and specifically how they are spending the funds. How much is the maintenance charge and ground rent on the apartment? Please inform me if there are any major works in the near future that will add a premium to the maintenance costs?

Other Topics

Lease Extensions in Forest of Dean