Top Five Questions relating to Almondsbury leasehold conveyancing
I have just appointed agents to market my basement apartment in Almondsbury.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold flat in Almondsbury. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Almondsbury who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Almondsbury conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to appointing a Almondsbury conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Almondsbury 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 several firms including non Almondsbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- Can they put you in touch with client in Almondsbury who can give a testimonial?
We expect to complete the sale of our £200000 maisonette in Almondsbury in six days. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Almondsbury?
Almondsbury conveyancing on leasehold maisonettes usually necessitates fees being levied by management companies :
- Addressing pre-contract enquiries
- Where consent is required before sale in Almondsbury
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Almondsbury lease unmortgageable?
Leasehold conveyancing in Almondsbury is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
I own a split level flat in Almondsbury, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Almondsbury with a long lease are worth £179,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2088
You have 68 years left to run the likely cost is going to be between £10,500 and £12,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.