Dunstable leasehold conveyancing Example Support Desk Enquiries
Due to sign contracts shortly on a ground floor flat in Dunstable. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Dunstable should include some of the following:
- Defining your rights in relation to common areas in the building.E.G., does the lease include a right of way over a path or staircase?
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Dunstable. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Dunstable are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Dunstable in which case you should be shopping around for a Dunstable conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
I own a leasehold flat in Dunstable. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Dunstable who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Dunstable conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to finding a Dunstable conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Dunstable conveyancing firm) it is imperative that he or she should 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 Dunstable conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- Can they put you in touch with client in Dunstable who can give a testimonial?
When it comes to leasehold conveyancing in Dunstable what are the most common lease problems?
Leasehold conveyancing in Dunstable is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- 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 could 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. Nationwide Building Society, Virgin Money, 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, forcing the buyer to withdraw.
I inherited a ground floor flat in Dunstable, conveyancing formalities finalised in 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Dunstable with a long lease are worth £205,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2075
With 53 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.