Recently asked questions relating to Bourne End leasehold conveyancing
I am on look out for some leasehold conveyancing in Bourne End. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Bourne End - 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.
Expecting to exchange soon on a leasehold property in Bourne End. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bourne End should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- The physical extent of the demise. This will be the flat itself but might include a loft or basement if applicable.
- Defining your rights in relation to common areas in the block.E.G., does the lease contain a right of way over a path or hallways?
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Changes to the flat (alterations and additions)
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bourne End. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Bourne End are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Bourne End in which case you should be shopping around for a Bourne End conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
Can you offer any advice when it comes to finding a Bourne End conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Bourne End conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Bourne End 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 helpful:
- How experienced is the firm with lease extension legislation?
- If they are not ALEP accredited then why not?
If all goes to plan we aim to complete the sale of our £ 375000 flat in Bourne End next Thursday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bourne End?
Bourne End conveyancing on leasehold apartments often necessitates the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.
I inherited a 2 bed flat in Bourne End, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable flats in Bourne End with a long lease are worth £177,000. The ground rent is £55 per annum. The lease runs out on 21st October 2098
With just 72 years unexpired the likely cost is going to range between £10,500 and £12,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.