Examples of recent questions relating to leasehold conveyancing in Crowthorne
I am in need of some leasehold conveyancing in Crowthorne. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and most are in Crowthorne - 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.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Crowthorne. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Crowthorne ?
Most houses in Crowthorne are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Crowthorne so you should seriously consider shopping around for a Crowthorne conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.
My wife and I purchased a leasehold flat in Crowthorne. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Crowthorne who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Crowthorne conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, 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 flat in Crowthorne. Am I liable to pay service charges relating to a period prior to my ownership?
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. However, 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 be sure 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).
Completion in due on our sale of a £250000 flat in Crowthorne on Tuesday in a week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Crowthorne?
Crowthorne conveyancing on leasehold flats usually requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.
I own a studio flat in Crowthorne, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Crowthorne with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease finishes on 21st October 2096
With only 75 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as 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 in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.