Barnard Castle leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Barnard Castle. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Barnard Castle - then the leasehold title will always include the basic details 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 appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Barnard Castle. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Barnard Castle ?
Most houses in Barnard Castle are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Barnard Castle in which case you should be looking for a Barnard Castle conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I own a leasehold flat in Barnard Castle. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Barnard Castle who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Barnard Castle conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Barnard Castle conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Barnard Castle conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Barnard Castle conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
If all goes to plan we aim to complete the disposal of our £200000 maisonette in Barnard Castle in just under a week. The managing agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Barnard Castle?
Barnard Castle conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.
I own a garden flat in Barnard Castle, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Barnard Castle with over 90 years remaining are worth £217,000. The ground rent is £65 invoiced annually. The lease runs out on 21st October 2094
With 69 years unexpired the likely cost is going to range between £10,500 and £12,000 as well as professional fees.
The figure 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. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Other Topics