Examples of recent questions relating to leasehold conveyancing in Axminster
Having had my offer accepted I require leasehold conveyancing in Axminster. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Axminster - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Axminster. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Axminster ?
The majority of houses in Axminster are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Axminster so you should seriously consider looking for a Axminster conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2001, I bought a leasehold house in Axminster. Conveyancing and Santander mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Axminster who acted for me is not around.What should I do?
First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Axminster conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete the sale of our £400000 maisonette in Axminster in just under a week. The management company has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Axminster?
Axminster conveyancing on leasehold apartments often involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
Are there common deficiencies that you encounter in leases for Axminster properties?
Leasehold conveyancing in Axminster is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
Leasehold Conveyancing in Axminster - Examples of Queries before Purchasing
Who are the managing agents?
Best to be warned whether a new roof is being put on or some other significant cost is due shortly that will be shared amongst the tenants and may well materially impact the level of the service fees or require a one off payment.
How long is the Lease?