Common questions relating to Cottenham leasehold conveyancing
I am on look out for some leasehold conveyancing in Cottenham. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in Cottenham - then the leasehold title will always include the short particulars 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.
Expecting to sign contracts shortly on a basement flat in Cottenham. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Cottenham should include some of the following:
- The physical extent of the demise. This will be the property itself but may incorporate a roof space or cellar if appropriate.
- Are pets allowed in the flat?
- You should be told what constitutes a Nuisance in the lease
- Repair and maintenance of the flat
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
My wife and I purchased a leasehold house in Cottenham. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Cottenham who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Cottenham conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of flats in Cottenham both have about forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 425000 garden flat in Cottenham next Wednesday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Cottenham?
Cottenham conveyancing on leasehold apartments ordinarily necessitates administration charges raised by management companies :
- Addressing pre-exchange questions
- Where consent is required before sale in Cottenham
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a split level flat in Cottenham, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable properties in Cottenham with over 90 years remaining are worth £268,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2091
With just 65 years remaining on your lease we estimate the premium for your lease extension to range between £17,100 and £19,800 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 the actual costs without more detailed due diligence. Do not use this information 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 should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.