Common questions relating to Burnham leasehold conveyancing
I am hoping to sign contracts shortly on a basement flat in Burnham. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Burnham should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
I have just started marketing my ground floor apartment in Burnham.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay the invoice 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Burnham. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Burnham ?
Most houses in Burnham are freehold and not 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 Burnham in which case you should be shopping around for a Burnham conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I own a leasehold house in Burnham. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Burnham who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make 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 Burnham conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful 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 £225000 flat in Burnham next week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Burnham?
Burnham conveyancing on leasehold maisonettes normally necessitates the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a studio flat in Burnham, conveyancing was carried out 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Burnham with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2098
With just 77 years unexpired we estimate the premium for your lease extension to range between £7,600 and £8,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.