Frequently asked questions relating to Birkenhead leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Birkenhead. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Birkenhead - 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 am hoping to sign contracts shortly on a studio apartment in Birkenhead. Conveyancing lawyers assured me that they are sending me a report on Monday. 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:
- You should receive a copy of the lease
Back In 2009, I bought a leasehold flat in Birkenhead. Conveyancing and Santander mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Birkenhead who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Birkenhead conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to choosing a Birkenhead conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Birkenhead conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Birkenhead conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Birkenhead with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Birkenhead can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers solicitors.
- Many freeholders or managing agents in Birkenhead levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Birkenhead.
I purchased a ground floor flat in Birkenhead, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Birkenhead with over 90 years remaining are worth £236,000. The ground rent is £60 yearly. The lease finishes on 21st October 2079
With 58 years remaining on your lease the likely cost is going to span between £23,800 and £27,400 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should 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.