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Recently asked questions relating to Beaufort leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Beaufort. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and 99.9% are in Beaufort - 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.

Looking forward to complete next month on a basement flat in Beaufort. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Beaufort should include some of the following:

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Beaufort please ask your conveyancer in advance of your conveyancing in Beaufort

    • My wife and I purchased a leasehold flat in Beaufort. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Beaufort who previously acted has long since retired.Any advice?

    First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Beaufort conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you offer any advice when it comes to choosing a Beaufort conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Beaufort conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Beaufort conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How familiar is the practice with lease extension legislation?
  • How many lease extensions has the firm completed in Beaufort in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Beaufort from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Beaufort can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • Many landlords or managing agents in Beaufort levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Beaufort.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Beaufort state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such works. Should you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor before hand.
  • Some Beaufort leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I inherited a 2 bed flat in Beaufort, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Equivalent properties in Beaufort with a long lease are worth £221,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2092

    With 69 years left to run the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should 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

    Lease Extensions in Beaufort