Recently asked questions relating to Hampden Pk leasehold conveyancing
I am in need of some leasehold conveyancing in Hampden Pk. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Hampden Pk - 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 would like to rent out my leasehold apartment in Hampden Pk. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A small minority of properties in Hampden Pk do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Hampden Pk. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Hampden Pk ?
Most houses in Hampden Pk are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hampden Pk so you should seriously consider shopping around for a Hampden Pk conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I am attracted to a two apartments in Hampden Pk which have approximately 50 years left on the leases. Do I need to be concerned?
There are plenty of short leases in Hampden Pk. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea 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 extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
We expect to complete the sale of our £150000 garden flat in Hampden Pk in nine days. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Hampden Pk?
Hampden Pk conveyancing on leasehold maisonettes normally involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to do so. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to sell the property.
I bought a leasehold flat in Hampden Pk, conveyancing formalities finalised in 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Hampden Pk with over 90 years remaining are worth £211,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2076
With just 52 years remaining on your lease we estimate the price of your lease extension to be between £30,400 and £35,200 as well as costs.
The figure that we have given is a general guide to costs for extending 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 a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
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