Bodmin leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Bodmin. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Bodmin - 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 am intending to let out my leasehold apartment in Bodmin. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A small minority of properties in Bodmin do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold 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've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Bodmin. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Bodmin are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Bodmin in which case you should be shopping around for a Bodmin conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
My wife and I purchased a leasehold house in Bodmin. 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 demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bodmin who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Bodmin conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325000 garden flat in Bodmin next week. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bodmin?
Bodmin conveyancing on leasehold maisonettes normally necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.
I acquired a ground floor flat in Bodmin, conveyancing formalities finalised in 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Bodmin with over 90 years remaining are worth £172,000. The ground rent is £65 per annum. The lease runs out on 21st October 2092
With 67 years unexpired the likely cost is going to range between £12,400 and £14,200 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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