Recently asked questions relating to Bradley Stoke leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Bradley Stoke. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Bradley Stoke - 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.
Back In 2001, I bought a leasehold house in Bradley Stoke. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Bradley Stoke who previously acted has long since retired.What should I do?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Bradley Stoke conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Bradley Stoke. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to finding a Bradley Stoke conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Bradley Stoke conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Bradley Stoke conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
We expect to complete our sale of a £375000 flat in Bradley Stoke in six days. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bradley Stoke?
Bradley Stoke conveyancing on leasehold flats more often than not requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are at liberty invoice a reasonable charge for answering questions 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 administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Bradley Stoke Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
Does the lease contain onerous restrictions?
How is the lease structured?
The majority of Bradley Stoke leasehold properties will be liable to pay a service bill for maintenance of the block invoiced on behalf of the landlord. Should you purchase the property you will have to pay this contribution, normally periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all probability there will be a rentcharge to be met annual, normally this is not a exorbitant figure, say around £25-£75 but you need to enquire it because on occasion it can be many hundreds of pounds.