Questions and Answers: Birkenhead leasehold conveyancing
Expecting to sign contracts shortly on a studio apartment in Birkenhead. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Birkenhead should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I have just appointed agents to market my garden flat in Birkenhead.Conveyancing has not commenced but I have just had a quarterly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 2009, I bought a leasehold house in Birkenhead. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Birkenhead who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Birkenhead conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
All being well we will complete the sale of our £400000 flat in Birkenhead in just under a week. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Birkenhead?
Birkenhead conveyancing on leasehold apartments typically results in administration charges invoiced by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Birkenhead
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the common defects that you encounter in leases for Birkenhead properties?
There is nothing unique about leasehold conveyancing in Birkenhead. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.
I acquired a ground floor flat in Birkenhead, conveyancing formalities finalised 2004. How much will my lease extension cost? Comparable flats in Birkenhead with a long lease are worth £235,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2101
With 76 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
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