Leasehold Conveyancing in Ferryhill - Get a Quote from the leasehold experts approved by your lender

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Ferryhill, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Ferryhill leasehold conveyancing Example Support Desk Enquiries

Due to exchange soon on a ground floor flat in Ferryhill. Conveyancing lawyers have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • The physical extent of the demise. This will be the apartment itself but may incorporate a loft or cellar if appropriate.
  • Are you allowed to have a pet in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Ferryhill please ask your lawyer in advance of your conveyancing in Ferryhill

  • 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 all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Ferryhill. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    The majority of houses in Ferryhill are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Ferryhill so you should seriously consider looking for a Ferryhill conveyancing solicitor 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. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

    Back In 2005, I bought a leasehold flat in Ferryhill. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Ferryhill who previously acted has now retired.Do I pay?

    First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Ferryhill conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a two flats in Ferryhill which have about forty five years unexpired on the leases. Will this present a problem?

    There are plenty of short leases in Ferryhill. The lease is a legal document that entitles you 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. For this reason it is generally wise 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 such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

    All being well we will complete our sale of a £350000 apartment in Ferryhill next Thursday . The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Ferryhill?

    Ferryhill conveyancing on leasehold flats nine out of ten times involves fees being levied by landlords agents :

    • Completing pre-exchange questions
    • Where consent is required before sale in Ferryhill
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Ferryhill leasehold premises is £350. For Ferryhill conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

    I invested in buying a 1st floor flat in Ferryhill, conveyancing formalities finalised in 1999. Can you work out an approximate cost of a lease extension? Similar properties in Ferryhill with a long lease are worth £204,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2074

    With only 53 years left to run we estimate the premium for your lease extension to be between £35,200 and £40,600 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Ferryhill