Top Five Questions relating to Blakeney leasehold conveyancing
I am in need of some leasehold conveyancing in Blakeney. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Blakeney - 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’m about to sell my ground floor apartment in Blakeney.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.
Back In 2008, I bought a leasehold house in Blakeney. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Blakeney who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Blakeney conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Blakeney both have approximately 50 years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. 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 enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
What are your top tips when it comes to appointing a Blakeney conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Blakeney conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Blakeney conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions has the firm carried out in Blakeney in the last twenty four months?
- What are the charges for lease extension conveyancing?
Blakeney Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Does this lease have more than 85 years remaining?
Many Blakeney leasehold flats will have a service bill for maintenance of the block set by the freeholder. Where you acquire the apartment you will have to pay this amount, usually quarterly throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a rentcharge to be met yearly, normally this is not a exorbitant figure, say about £50-£100 but you should to check as on occasion it can be prohibitively expensive.