Questions and Answers: Clophill leasehold conveyancing
Due to exchange soon on a studio apartment in Clophill. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Clophill should include some of the following:
- You should be sent a copy of the lease
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Clophill. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Clophill are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Clophill in which case you should be shopping around for a Clophill conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Clophill. Conveyancing and Aldermore mortgage organised. 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 1997. The conveyancing practitioner in Clophill who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Clophill conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Clophill conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Clophill conveyancing practice) 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 two or three firms including non Clophill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Clophill with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Clophill can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
- The majority freeholders or Management Companies in Clophill levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Clophill.
I own a split level flat in Clophill, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Clophill with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £60 yearly. The lease comes to an end on 21st October 2095
With only 72 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.