Frenchay Common leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Frenchay Common. 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 Frenchay Common - 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.
I have just appointed agents to market my ground floor flat in Frenchay Common.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge 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 today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Frenchay Common. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Frenchay Common are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Frenchay Common so you should seriously consider looking for a Frenchay Common conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
What are your top tips when it comes to appointing a Frenchay Common conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Frenchay Common conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Frenchay Common conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
In relation to leasehold conveyancing in Frenchay Common what are the most common lease problems?
Leasehold conveyancing in Frenchay Common is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I own a split level flat in Frenchay Common, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Frenchay Common with an extended lease are worth £170,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2092
You have 70 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 plus professional fees.
The figure 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 without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.