Guaranteed fixed fees for Leasehold Conveyancing in Cemaes Bay

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Common questions relating to Cemaes Bay leasehold conveyancing

I am on look out for some leasehold conveyancing in Cemaes Bay. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Cemaes Bay - 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 have just started marketing my ground floor apartment in Cemaes Bay.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

It best that you discharge 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 until 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.

My wife and I purchased a leasehold flat in Cemaes Bay. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Cemaes Bay who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Cemaes Bay conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Cemaes Bay from the perspective of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Cemaes Bay can be bypassed if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
  • Many landlords or managing agents in Cemaes Bay charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Cemaes Bay.
  • Some Cemaes Bay leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • You believe that you know the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • If all goes to plan we aim to complete our sale of a £350000 flat in Cemaes Bay next Friday . The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Cemaes Bay?

    Cemaes Bay conveyancing on leasehold apartments normally necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.

    I invested in buying a 2 bed flat in Cemaes Bay, conveyancing was carried out 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Cemaes Bay with a long lease are worth £179,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2084

    With 58 years unexpired the likely cost is going to range between £22,800 and £26,400 as well as professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Cemaes Bay