Common questions relating to Crewe leasehold conveyancing
I have just appointed agents to market my basement apartment in Crewe.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the invoice 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 unless 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.
Back In 2003, I bought a leasehold flat in Crewe. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Crewe who previously acted has now retired.Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Crewe conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Crewe with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Crewe can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Crewe leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Should you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer in advance.
If all goes to plan we aim to complete the sale of our £375000 flat in Crewe next Monday . The management company has quoted £420 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Crewe?
Crewe conveyancing on leasehold flats often involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you if you want to complete the sale of your home.
What makes a Crewe lease unmortgageable?
Leasehold conveyancing in Crewe is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations 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.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I acquired a leasehold flat in Crewe, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Crewe with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2083
With only 62 years left to run the likely cost is going to range between £18,100 and £20,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.