Common questions relating to Binfield leasehold conveyancing
I am on look out for some leasehold conveyancing in Binfield. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Binfield - 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.
Due to complete next month on a basement flat in Binfield. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Binfield should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I am tempted by the attractive purchase price for a couple of flats in Binfield which have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Binfield. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
Can you offer any advice when it comes to choosing a Binfield conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Binfield conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Binfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- Can they put you in touch with client in Binfield who can give a testimonial?
If all goes to plan we aim to complete the sale of our £250000 garden flat in Binfield in just under a week. The management company has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Binfield?
Binfield conveyancing on leasehold flats normally results in fees being levied by freeholders :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Binfield
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a garden flat in Binfield, conveyancing formalities finalised 2011. 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? Equivalent properties in Binfield with a long lease are worth £229,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2101
With only 79 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. 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. You should not take any other action based on this information without first getting professional advice.