Guaranteed fixed fees for Leasehold Conveyancing in Biddenham

While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Biddenham, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Biddenham leasehold conveyancing Example Support Desk Enquiries

I have just appointed agents to market my ground floor flat in Biddenham.Conveyancing has not commenced but I have just had a half-yearly service charge demand – what should I do?

The sensible thing to do is pay 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 managing agents 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.

My wife and I purchased a leasehold house in Biddenham. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Biddenham who previously acted has long since retired.Do I pay?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Biddenham conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two flats in Biddenham both have in the region of fifty years left on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more costly 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 extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

What advice can you give us when it comes to appointing a Biddenham conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Biddenham conveyancing practice) it is most important that they 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 Biddenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • How many lease extensions have they conducted in Biddenham in the last twenty four months?

  • All being well we will complete the sale of our £425000 maisonette in Biddenham next Tuesday . The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Biddenham?

    Biddenham conveyancing on leasehold flats often requires the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded if you want to complete the sale of your home.

    I inherited a 2 bed flat in Biddenham, conveyancing formalities finalised 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Biddenham with over 90 years remaining are worth £222,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2095

    With 71 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Biddenham