Sample questions relating to Ebbw Vale leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Ebbw Vale. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Ebbw Vale - then the leasehold title will always include the basic details 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.
Due to exchange soon on a garden flat in Ebbw Vale. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Ebbw Vale should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I work for a long established estate agent office in Ebbw Vale where we have experienced a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Ebbw Vale conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you offer any advice when it comes to choosing a Ebbw Vale conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Ebbw Vale conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Ebbw Vale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
If all goes to plan we aim to complete our sale of a £200000 garden flat in Ebbw Vale in just under a week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Ebbw Vale?
Ebbw Vale conveyancing on leasehold maisonettes typically necessitates administration charges levied by management companies :
- Answering pre-exchange enquiries
- Where consent is required before sale in Ebbw Vale
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Ebbw Vale - Sample of Queries before Purchasing
Make sure you discover if the the lease includes any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Ebbw Vale. If you like the flatin Ebbw Vale yet your dog can’t live with you then you have a very hard choice.
It would be wise to discover as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the communal areas. Ask other tenants whether they are happy with them. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically how they are spending that money.
How much is the service charge and ground rent on the property?