Recently asked questions relating to Cookham leasehold conveyancing
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cookham. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cookham ?
Most houses in Cookham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Cookham so you should seriously consider looking for a Cookham conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
Back In 2002, I bought a leasehold flat in Cookham. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Cookham who previously acted has now retired.Any advice?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Cookham conveyancing solicitor 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 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Cookham both have approximately fifty years remaining on the leases. should I be concerned?
There are plenty of short leases in Cookham. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to choosing a Cookham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Cookham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Cookham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If they are not ALEP accredited then what is the reason?
Completion in due on our sale of a £375000 maisonette in Cookham on Wednesday in a week. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Cookham?
Cookham conveyancing on leasehold maisonettes usually necessitates the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are entitled levy a reasonable charge for responding to enquiries 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 cases it is in excess of £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
Cookham Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
This information is important as a) areas may cause problems in the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the managing agents you will need to have complete disclosure
On the whole the cost for major works are not wrapped into the service charges, although a few managing agents in Cookham ask leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance.
Is anyone aware of any major works in the planning that will likely add a premium to the service fees?