Recently asked questions relating to Ampthill leasehold conveyancing
I have just appointed agents to market my ground floor flat in Ampthill.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer unless 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.
Back In 2009, I bought a leasehold flat in Ampthill. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Ampthill who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ampthill conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold house in Ampthill. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 Ampthill with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Ampthill can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- Many landlords or managing agents in Ampthill levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information 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 common reason for frustration in leasehold conveyancing in Ampthill.
We expect to complete our sale of a £425000 maisonette in Ampthill in just under a week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Ampthill?
Ampthill conveyancing on leasehold maisonettes usually involves fees being invoiced by landlords agents :
- Answering pre-exchange questions
- Where consent is required before sale in Ampthill
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a 1st floor flat in Ampthill, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Ampthill with over 90 years remaining are worth £253,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2100
With 77 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.