Understanding Leasehold Finances for Residential Conveyancers
Session
24 Oct 2024
2:00 PM ‐ 4:00 PM
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Understanding Leasehold Finances for Residential Conveyancers
Introduction
Affordability and escalating costs are at the forefront of conversations., especially in the context of rising mortgage costs.
This virtual classroom seminar takes a look at understanding leasehold finances and the different liabilities that might arise during ownership of a leasehold flat.
The session will assist in identifying the key risks for those advising on a purchase, as well as spotting potential issues that might arise on behalf of a seller.
What You Will Learn
This live and interactive session will cover the following:
- Service charges: the basics
- The service charge framework
- Major works projects
- Reserve/sinking funds
- Building safety costs
- Future costs
- Understanding year end accounts
- Understanding the LPE1 pack information to calculate the total service charge liability
- Assessing the potential risks for a buyer
- Negotiating retentions during a conveyance
- Contractual obligations during a conveyance
- Dealing with seller arrears
- Troubleshooting after completion
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.