Recently asked questions relating to Castle Bromwich leasehold conveyancing
I am in need of some leasehold conveyancing in Castle Bromwich. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Castle Bromwich - 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 am hoping to exchange soon on a studio apartment in Castle Bromwich. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Castle Bromwich should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I have just started marketing my 2 bed apartment in Castle Bromwich.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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 management companies 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.
Back In 2003, I bought a leasehold house in Castle Bromwich. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Castle Bromwich who acted for me is not around.Any advice?
First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Castle Bromwich conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Castle Bromwich with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Castle Bromwich can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- Many landlords or Management Companies in Castle Bromwich levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Castle Bromwich.
Castle Bromwich Conveyancing for Leasehold Flats - Examples of Queries before buying
Is the freehold reversion owned jointly by the tenants?
Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Castle Bromwich require leasehold owners to pay into a reserve fund and this is used to offset against major repairs or maintenance.
Its a good idea to find out as much as possible concerning the managing agents as they can either make your life much simpler or problematic. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical issues like the tidiness of the common parts. Enquire of other people what they think of their service. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money.