I have just appointed agents to market my basement flat in Wendover.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 until 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. This will smooth the conveyancing process.

I today plan to offer on a house that seems to meet my requirements, at a great figure 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 issues purchasing a leasehold house in Wendover. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Wendover ?

The majority of houses in Wendover are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Wendover in which case you should be looking for a Wendover conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

My wife and I purchased a leasehold house in Wendover. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Wendover who previously acted has now retired.Any advice?

First contact HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Wendover conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a busy estate agent office in Wendover where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Wendover conveyancing solicitors. Could you clarify 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as 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 buyer.

In relation to leasehold conveyancing in Wendover what are the most common lease defects?

Leasehold conveyancing in Wendover is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• 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

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Aldermore 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 defective they may refuse to provide security, forcing the purchaser to pull out.

Wendover Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

Generally speaking the outlay for major works are not included within service charges, albeit that there some managing agents in Wendover ask leaseholders to pay into a sinking fund created for the specific purpose of building a fund for larger works. You should be aware if it is less than eighty years it will have adverse implications on the salability of the property. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the residence for a couple of years before you are entitled to extend the lease. Who takes responsibility for maintaining and repairing the building?