I am in need of some leasehold conveyancing in Craven Arms. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Craven Arms - 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.

I own a leasehold house in Craven Arms. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Craven Arms who acted for me is not around.Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a Craven Arms conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agency in Craven Arms where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Craven Arms conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

If all goes to plan we aim to complete our sale of a £450000 apartment in Craven Arms next week. The managing agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Craven Arms?

Craven Arms conveyancing on leasehold flats usually necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

What makes a Craven Arms lease unacceptable for security purposes?

Leasehold conveyancing in Craven Arms is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Craven Arms - A selection of Queries Prior to Purchasing

What is the name of the managing agents? The best form of lease structure is a share of the freehold. In this scenario the tenants enjoy control and notwithstanding that a managing agent is often retained if it is larger than a house conversion, the managing agent is directed by the tenants. Does this lease have in excess of 90 years left?

Other Topics

Lease Extensions in Craven Arms