Haddenham leasehold conveyancing Example Support Desk Enquiries
Planning to exchange soon on a garden flat in Haddenham. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Haddenham should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I've recently bought a leasehold house in Haddenham. Am I liable to pay service charges for periods before 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).
What advice can you give us when it comes to appointing a Haddenham conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Haddenham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Haddenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Haddenham with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Haddenham can be bypassed where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Haddenham leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you fail to have the approvals to hand do not contact the landlord without checking with your solicitor first.
In relation to leasehold conveyancing in Haddenham what are the most common lease defects?
Leasehold conveyancing in Haddenham is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. 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.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I bought a ground floor flat in Haddenham, conveyancing was carried out in 1996. How much will my lease extension cost? Similar properties in Haddenham with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2080
You have 57 years unexpired the likely cost is going to range between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.