Frequently asked questions relating to Frenchay leasehold conveyancing
I am on look out for some leasehold conveyancing in Frenchay. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Frenchay - 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.
Expecting to sign contracts shortly on a ground floor flat in Frenchay. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Frenchay should include some of the following:
- You should be sent a copy of the lease
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Frenchay. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Frenchay ?
The majority of houses in Frenchay are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Frenchay in which case you should be shopping around for a Frenchay conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. 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 advise you fully on all the issues.
Last month I purchased a leasehold flat in Frenchay. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
If all goes to plan we aim to complete the sale of our £200000 flat in Frenchay in nine days. The freeholder has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Frenchay?
For most leasehold sales in Frenchay conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Frenchay
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a leasehold flat in Frenchay, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Frenchay with a long lease are worth £190,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2079
With just 54 years remaining on your lease the likely cost is going to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Other Topics