Guaranteed fixed fees for Leasehold Conveyancing in Parkstone

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When it comes to leasehold conveyancing in Parkstone, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Top Five Questions relating to Parkstone leasehold conveyancing

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Parkstone. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Parkstone ?

Most houses in Parkstone are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Parkstone in which case you should be looking for a Parkstone conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.

My wife and I purchased a leasehold house in Parkstone. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Parkstone who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Parkstone conveyancing practitioner to do this as you can do this on the Land Registry website 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've recently bought a leasehold flat in Parkstone. 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. 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 be sure 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 work for a long established estate agency in Parkstone where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Parkstone conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Do you have any advice for leasehold conveyancing in Parkstone with the aim of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Parkstone can be avoided if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Parkstone state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. If you fail to have the approvals in place do not communicate with the landlord without contacting your solicitor before hand.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Organising a duplicate share certificate can be a time consuming formality and frustrates many a Parkstone home move. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Leasehold Conveyancing in Parkstone - A selection of Questions you should ask before buying

      Its a good idea to find out as much as you can about the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to day to day issues like the upkeep of the common parts. You should not be afraid to ask other tenants whether they are happy with their service. Finally, investigate as to the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money. Does this lease have more than 80 years remaining? The best form of lease arrangement is where the freehold interest is owned by the leaseholders. In this arrangement the tenants have being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Parkstone