Examples of recent questions relating to leasehold conveyancing in Badminton
Expecting to complete next month on a studio apartment in Badminton. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Badminton should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Badminton. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Badminton ?
The majority of houses in Badminton are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Badminton in which case you should be shopping around for a Badminton conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.
My wife and I purchased a leasehold house in Badminton. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Badminton who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Badminton conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in Badminton with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Badminton can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
- The majority landlords or managing agents in Badminton levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Badminton.
All being well we will complete the sale of our £350000 apartment in Badminton in seven days. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Badminton?
For most leasehold sales in Badminton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in Badminton
- 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 invested in buying a 1 bedroom flat in Badminton, conveyancing formalities finalised 2001. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Badminton with an extended lease are worth £262,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2096
With just 75 years remaining on your lease we estimate the premium for your lease extension to span between £11,400 and £13,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.