Cottenham Park leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Cottenham Park. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Cottenham Park - 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.
My fiance and I may need to rent out our Cottenham Park garden flat for a while due to taking a sabbatical. We instructed a Cottenham Park conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Cottenham Park conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party before subletting. The net result is you not allowed to sublet without prior permission. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Last month I purchased a leasehold property in Cottenham Park. Do I have any liability for 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 advice can you give us when it comes to choosing a Cottenham Park conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Cottenham Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Cottenham Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
Completion in due on our sale of a £425000 apartment in Cottenham Park in 10 days. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Cottenham Park?
Cottenham Park conveyancing on leasehold flats often involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I am the registered owner of a garden flat in Cottenham Park, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Cottenham Park with an extended lease are worth £178,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2100
With only 75 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
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