There are times in a conveyancer’s working life when we think – wow, that is like an exam question – so how about this for a transaction I am presently acting it but set as an exam question.
Josephine is selling her house. Her intention is to move in with her boyfriend and then he will sell his house and they will buy a house together. She calls you and explains that the house she is selling is leasehold but she is conscious that houses may no longer be able to be sold as leasehold. It is a 999 year lease. The house is about five years old and she has a mortgage with a High Street lender but also has a second charge which is the Help to Buy equity mortgage. She tells you that the ground rent is paid to one company but that there is a service or management charge payable to another company.
Please outline how you would advise Josephine to proceed.
A very common scenario which just shows the depth of knowledge a conveyancer must have but set out in a paragraph. Where to start and most importantly, how much to charge?
