Top Five Questions relating to Binfield leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Binfield. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Binfield - 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.
I want to let out my leasehold apartment in Binfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Binfield do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a leasehold house in Binfield. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Binfield who previously acted has now retired.Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Binfield conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of maisonettes in Binfield both have about forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Binfield. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold flat in Binfield. Do I have any liability for service charges for periods before my ownership?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
Leasehold Conveyancing in Binfield - Sample of Questions you should ask Prior to buying
Can you tell me if there are any major works anticipated that could increase the service charges?
This question is important as a) areas can cause problems in the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to know about it
What is the length of the lease?