Having had my offer accepted I require leasehold conveyancing in Castle Donington. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Castle Donington - 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 own a leasehold house in Castle Donington. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Castle Donington who previously acted has now retired.Do I pay?

First contact 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 Castle Donington conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of flats in Castle Donington both have about 50 years remaining on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

If all goes to plan we aim to complete our sale of a £300000 maisonette in Castle Donington next Friday . The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Castle Donington?

Castle Donington conveyancing on leasehold apartments more often than not involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to sell the property.

What are the frequently found problems that you see in leases for Castle Donington properties?

There is nothing unique about leasehold conveyancing in Castle Donington. All leases are individual and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Castle Donington Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

Be sure to find out if the the lease includes any unreasonable restrictions in the lease. By way of example it is reasonably common in Castle Donington leases that pets are not permitted in certain buildings in Castle Donington. If you like the apartmentin Castle Donington yet your dog can’t move with you then you will be faced difficult compromise. How many of the leaseholders are in arrears for their service charge payments? Who takes responsibility for maintaining and repairing the building?

Other Topics

Lease Extensions in Castle Donington