Common questions relating to Castle Bromwich leasehold conveyancing
I am in need of some leasehold conveyancing in Castle Bromwich. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and almost all 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 ground floor flat in Castle Bromwich. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Castle Bromwich should include some of the following:
- The total extent of the property. This will be the apartment itself but could also incorporate a loft or basement if applicable.
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Does the lease prevent you from letting out the property, or having a home office for business
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Whether your lease has a provision for a sinking fund?
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- 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
My wife and I purchased a leasehold flat in Castle Bromwich. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Castle Bromwich who previously acted has now retired.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Castle Bromwich conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to choosing a Castle Bromwich conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Castle Bromwich conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Castle Bromwich conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
- Can they put you in touch with client in Castle Bromwich who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 375000 maisonette in Castle Bromwich next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Castle Bromwich?
Castle Bromwich conveyancing on leasehold apartments more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to sell the property.
I purchased a garden flat in Castle Bromwich, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Castle Bromwich with an extended lease are worth £182,000. The ground rent is £45 per annum. The lease runs out on 21st October 2100
With just 74 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" 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 the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.