Common questions relating to Chesham Bois leasehold conveyancing
I am in need of some leasehold conveyancing in Chesham Bois. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Chesham Bois - 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.
Back In 2007, I bought a leasehold house in Chesham Bois. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Chesham Bois 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 in fact the registered owner of the freehold reversion. There is no need to instruct a Chesham Bois conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, 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 Chesham Bois conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Chesham Bois conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Chesham Bois conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- What volume of lease extensions have they completed in Chesham Bois in the last twenty four months?
Can you provide any top tips for leasehold conveyancing in Chesham Bois with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Chesham Bois can be reduced where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
- Many freeholders or managing agents in Chesham Bois charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Chesham Bois.
If all goes to plan we aim to complete the disposal of our £325000 garden flat in Chesham Bois next week. The management company has quoted £408 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Chesham Bois?
Chesham Bois conveyancing on leasehold flats often requires the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.
I invested in buying a studio flat in Chesham Bois, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Chesham Bois with over 90 years remaining are worth £238,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2085
With 63 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.