Questions and Answers: Hawkshead leasehold conveyancing
I am hoping to complete next month on a basement flat in Hawkshead. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Hawkshead should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Hawkshead. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Hawkshead are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Hawkshead in which case you should be looking for a Hawkshead conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
My wife and I purchased a leasehold house in Hawkshead. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Hawkshead who previously acted has long since retired.Any advice?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Hawkshead conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Hawkshead. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
We expect to complete the disposal of our £325000 garden flat in Hawkshead next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Hawkshead?
Hawkshead conveyancing on leasehold apartments usually necessitates administration charges levied by landlords agents :
- Completing pre-exchange questions
- Where consent is required before sale in Hawkshead
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Hawkshead Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
The prefered form of lease arrangement is where the freehold interest is owned by the leaseholders. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is frequently retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
What is the annual service fee and ground rent?
Generally speaking the outlay for major works tend not to be included within maintenance charges, although some managing agents in Hawkshead require tenants to pay into a sinking fund created for the specific intention of building a fund for major works.