Due to sign contracts shortly on a basement flat in Hawkshead. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Hawkshead should include some of the following:

• You should be sent a copy of the lease

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hawkshead. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Hawkshead ?

The majority of houses in Hawkshead are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Hawkshead so you should seriously consider shopping around for a Hawkshead conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I've recently bought a leasehold property in Hawkshead. Do I have any liability for service charges for periods before completion of my purchase?

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. 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).

I am a negotiator for a long established estate agency in Hawkshead where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Hawkshead conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 simultaneously with 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.

If all goes to plan we aim to complete our sale of a £125000 flat in Hawkshead next week. The management company has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Hawkshead?

Hawkshead conveyancing on leasehold apartments usually requires the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Hawkshead Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? Who is in charge of the block? Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Hawkshead