Top Five Questions relating to Cranfield leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Cranfield. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Cranfield - 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.
Due to exchange soon on a basement flat in Cranfield. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Cranfield should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I’m about to sell my ground floor flat in Cranfield.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – what should I do?
It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
What are your top tips when it comes to choosing a Cranfield conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Cranfield conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Cranfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
If all goes to plan we aim to complete the disposal of our £200000 apartment in Cranfield next Monday . The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cranfield?
Cranfield conveyancing on leasehold apartments nine out of ten times involves administration charges invoiced by freeholders :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Cranfield
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a garden flat in Cranfield, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Cranfield with an extended lease are worth £261,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2080
With 57 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.