Fixed-fee leasehold conveyancing in Westbury Park:

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Leasehold conveyancing in Westbury Park is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Westbury Park and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Westbury Park leasehold conveyancing

I am looking at a couple of apartments in Westbury Park which have in the region of fifty years unexpired on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold house in Westbury Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Can you provide any top tips for leasehold conveyancing in Westbury Park from the point of view of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Westbury Park can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
  • The majority freeholders or Management Companies in Westbury Park levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Westbury Park.
  • A minority of Westbury Park leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. 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 ahead of 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 reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy formality and slows down many a Westbury Park conveyancing transaction. Where a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • If all goes to plan we aim to complete the disposal of our £300000 flat in Westbury Park next week. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Westbury Park?

    Westbury Park conveyancing on leasehold apartments usually requires the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

    When it comes to leasehold conveyancing in Westbury Park what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Westbury Park. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have 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. Birmingham Midshires, Barnsley Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Westbury Park Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

      For many Westbury Park leaseholds the cost for major works tend not to be built into the service charges, although some managing agents in Westbury Park require leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance. It is important to be aware whether fixing the lift or some other significant cost is coming up to be shared between the tenants and will dramatically impact the level of the maintenance fees or require a specific payment. Are any of leasehold owners in arrears of their service charge liability?

    Other Topics

    Lease Extensions in Westbury Park