Top Five Questions relating to Battle leasehold conveyancing
I am in need of some leasehold conveyancing in Battle. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and most are in Battle - 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 attracted to a two maisonettes in Battle which have in the region of fifty years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Battle. The lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field
Can you offer any advice when it comes to appointing a Battle conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Battle conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Battle conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If they are not ALEP accredited then what is the reason?
Can you provide any top tips for leasehold conveyancing in Battle with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Battle can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
- The majority landlords or managing agents in Battle charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Battle.
Completion in due on our sale of a £125000 apartment in Battle on Thursday in a week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Battle?
Battle conveyancing on leasehold flats ordinarily necessitates administration charges raised by landlords agents :
- Addressing pre-contract enquiries
- Where consent is required before sale in Battle
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Battle Conveyancing for Leasehold Flats - Examples of Queries before buying
-
How much is the yearly maintenance fee and ground rent?
It is important to be aware whether fixing the lift or some other major work is anticipated to be shared amongst the leasehold owners and may well materially increase the the maintenance fees or result in a one off invoice.
Are there any major works in the near future that could increase the maintenance fees?
Other Topics