Sample questions relating to Chipping Sodbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Chipping Sodbury. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Chipping Sodbury - 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 intending to sublet my leasehold flat in Chipping Sodbury. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your last Chipping Sodbury conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or some other party before subletting. This means that you cannot sublet without prior consent. The consent is not allowed to be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
I own a leasehold flat in Chipping Sodbury. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Chipping Sodbury who previously acted has now retired.Do I pay?
First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Chipping Sodbury conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Chipping Sodbury. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to choosing a Chipping Sodbury conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Chipping Sodbury conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Chipping Sodbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
- What volume of lease extensions has the firm carried out in Chipping Sodbury in the last twenty four months?
I acquired a ground floor flat in Chipping Sodbury, conveyancing having been completed 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Chipping Sodbury with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease comes to an end on 21st October 2087
With 61 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.