Fixed-fee leasehold conveyancing in Wareham:

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Wareham leasehold conveyancing: Q and A’s

I've recently bought a leasehold house in Wareham. Am I liable to pay service charges for periods before my ownership?

In a situation 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. 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 work for a busy estate agency in Wareham where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Wareham conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

What advice can you give us when it comes to finding a Wareham conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Wareham conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Wareham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

  • What volume of lease extensions have they completed in Wareham in the last 12 months?
  • Can they put you in touch with client in Wareham who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Wareham with the intention of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Wareham can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
    • Many landlords or Management Companies in Wareham levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Wareham.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate is often a lengthy formality and delays many a Wareham conveyancing transaction. Where a new share certificate is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • If all goes to plan we aim to complete the sale of our £375000 flat in Wareham next week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wareham?

    Wareham conveyancing on leasehold apartments normally involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They are at liberty charge a reasonable charge 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 levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in Wareham - Sample of Queries Prior to buying

      In the main the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Wareham require leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance. Is anyone aware of any major works in the near future that will add a premium to the maintenance fees? Most Wareham leasehold apartments will have a service bill for the upkeep of the block invoiced by the landlord. Where you acquire the flat you will have to pay this amount, normally in instalments throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all likelihood there will be a ground rent for you to pay annual, ordinarily this is not a significant figure, say around £25-£75 but you need to check it because sometimes it could be surprisingly expensive.

    Other Topics

    Lease Extensions in Wareham