Common questions relating to Bedwas leasehold conveyancing
I am on look out for some leasehold conveyancing in Bedwas. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Bedwas - 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 have just started marketing my basement apartment in Bedwas.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2005, I bought a leasehold house in Bedwas. Conveyancing and TSB mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Bedwas who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Bedwas conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to choosing a Bedwas conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Bedwas conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Bedwas conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- What volume of lease extensions has the firm completed in Bedwas in the last year?
We expect to complete the sale of our £425000 garden flat in Bedwas in seven days. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bedwas?
Bedwas conveyancing on leasehold flats usually requires the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to sell the property.
I purchased a 1 bedroom flat in Bedwas, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Bedwas with over 90 years remaining are worth £194,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2071
You have 50 years left to run we estimate the premium for your lease extension to span between £37,100 and £42,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.