Looking forward to complete next month on a basement flat in Bishop Auckland. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Bishop Auckland should include some of the following:

• Defining your rights in relation to the communal areas in the building.E.G., does the lease permit a right of way over a path or hallways?

I own a leasehold house in Bishop Auckland. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Bishop Auckland who previously acted has now retired.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 incur the fees of a Bishop Auckland conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two apartments in Bishop Auckland both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Bishop Auckland. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

All being well we will complete the sale of our £325000 maisonette in Bishop Auckland in 8 days. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bishop Auckland?

Bishop Auckland conveyancing on leasehold apartments usually involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.

In relation to leasehold conveyancing in Bishop Auckland what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Bishop Auckland. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I acquired a basement flat in Bishop Auckland, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Bishop Auckland with a long lease are worth £213,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ceases on 21st October 2100

You have 75 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered 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.

Other Topics

Lease Extensions in Bishop Auckland