Examples of recent questions relating to leasehold conveyancing in Dyserth
I am in need of some leasehold conveyancing in Dyserth. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Dyserth - 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.
Estate agents have just been given the go-ahead to market my ground floor apartment in Dyserth.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – what should I do?
The sensible thing to do is clear 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 management companies 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. This will smooth the conveyancing process.
I own a leasehold flat in Dyserth. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Dyserth who acted for me is not around.Do I pay?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Dyserth conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Dyserth which have about forty five years left on the leases. Do I need to be concerned?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field
What are your top tips when it comes to finding a Dyserth conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Dyserth conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Dyserth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How many lease extensions has the firm carried out in Dyserth in the last 12 months?
I acquired a studio flat in Dyserth, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable flats in Dyserth with a long lease are worth £175,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2097
With just 76 years left to run the likely cost is going to span between £9,500 and £11,000 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 a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.