Frequently asked questions relating to Frizington leasehold conveyancing
Looking forward to complete next month on a studio apartment in Frizington. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Frizington should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I’m about to sell my 2 bed apartment in Frizington.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – Do I pay up?
It best that you pay the service charge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Frizington. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Frizington are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Frizington in which case you should be shopping around for a Frizington conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
What are your top tips when it comes to choosing a Frizington conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Frizington conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Frizington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the practice with lease extension legislation?
We expect to complete the sale of our £250000 garden flat in Frizington in 8 days. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Frizington?
Frizington conveyancing on leasehold apartments normally results in administration charges levied by managing agents :
- Addressing pre-exchange questions
- Where consent is required before sale in Frizington
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a studio flat in Frizington, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Frizington with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £65 per annum. The lease runs out on 21st October 2102
With just 80 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.