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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Cross Keys, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Cross Keys leasehold conveyancing

I am hoping to sign contracts shortly on a ground floor flat in Cross Keys. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Cross Keys should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your rights in respect of the communal areas in the block.For example, does the lease contain a right of way over an accessway or hallways?
  • Are pets allowed in the flat?
  • Does the lease prevent you from renting out the property, or working from home
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Cross Keys please enquire of your lawyer in advance of your conveyancing in Cross Keys

    • I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Cross Keys. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Cross Keys ?

    Most houses in Cross Keys are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Cross Keys so you should seriously consider looking for a Cross Keys conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

    My wife and I purchased a leasehold flat in Cross Keys. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. 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 1997. The conveyancing solicitor in Cross Keys who acted for me is not around.Do I pay?

    The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Cross Keys conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you offer any advice when it comes to appointing a Cross Keys conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Cross Keys conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Cross Keys 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 practice with lease extension legislation?
  • Can they put you in touch with client in Cross Keys who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Cross Keys from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Cross Keys can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
    • Many freeholders or managing agents in Cross Keys charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cross Keys.
  • A minority of Cross Keys leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.
  • If you hold a share in a the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and slows down many a Cross Keys conveyancing deal. Where a new share certificate is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • I invested in buying a basement flat in Cross Keys, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Cross Keys with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2085

    With 63 years left to run the likely cost is going to span between £17,100 and £19,800 as well as costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Cross Keys