Examples of recent questions relating to leasehold conveyancing in Bargoed
I am on look out for some leasehold conveyancing in Bargoed. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Bargoed - 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.
Expecting to sign contracts shortly on a leasehold property in Bargoed. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bargoed should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold house in Bargoed. Conveyancing and Britannia mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bargoed who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Bargoed conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold property in Bargoed. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
If all goes to plan we aim to complete the disposal of our £275000 maisonette in Bargoed in 10 days. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Bargoed?
Bargoed conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.
Leasehold Conveyancing in Bargoed - A selection of Questions you should consider before buying
Best to be warned whether window replacement or some other major work is anticipated that will be shared between the leasehold owners and could well materially increase the the service costs or result in a one time payment.
Make sure you enquire if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Bargoed. If you love the flatin Bargoed however your cat is not allowed to move with you then you will be presented with a hard compromise.
Are there any major works on the horizon that will likely increase the service fees?