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Coxhoe leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Coxhoe. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Coxhoe - 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.

Due to exchange soon on a ground floor flat in Coxhoe. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Coxhoe should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your rights in relation to the communal areas in the block.By way of example, does the lease permit a right of way over an accessway or hallways?
  • Whether the lease restricts you from renting out the property, or having a home office for business
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat For a comprehensive list of information to be included in your report on your leasehold property in Coxhoe please ask your solicitor in ahead of your conveyancing in Coxhoe

    • My wife and I purchased a leasehold flat in Coxhoe. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Coxhoe who previously acted has long since retired.Any advice?

    The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Coxhoe conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I've recently bought a leasehold property in Coxhoe. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner 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. 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).

    Do you have any top tips for leasehold conveyancing in Coxhoe from the perspective of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Coxhoe can be bypassed if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
    • Many landlords or Management Companies in Coxhoe levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Coxhoe.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Coxhoe state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such alterations. If you fail to have the approvals in place you should not communicate with the landlord without contacting your conveyancer in advance.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a new share certificate can be a lengthy formality and slows down many a Coxhoe conveyancing deal. If a new share is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I bought a 1st floor flat in Coxhoe, conveyancing formalities finalised 2001. Can you work out an approximate cost of a lease extension? Equivalent flats in Coxhoe with an extended lease are worth £220,000. The ground rent is £55 yearly. The lease runs out on 21st October 2096

    With only 71 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Coxhoe