Beaminster leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Beaminster. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Beaminster - 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.
Having checked my lease I have discovered that there are only 72 years left on my lease in Beaminster. I need to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the landlord. In some cases a specialist would be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Beaminster.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Beaminster. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Beaminster ?
Most houses in Beaminster are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Beaminster in which case you should be looking for a Beaminster conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I've recently bought a leasehold property in Beaminster. Am I liable to pay service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
All being well we will complete the sale of our £250000 apartment in Beaminster in just under a week. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Beaminster?
Beaminster conveyancing on leasehold flats normally involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge required 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 choice but to pay whatever is demanded if you want to complete the sale of your home.
I invested in buying a leasehold flat in Beaminster, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Beaminster with over 90 years remaining are worth £193,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2075
With just 54 years unexpired the likely cost is going to range between £29,500 and £34,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.