Hawkshead leasehold conveyancing: Q and A’s
I have just started marketing my ground floor apartment in Hawkshead.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 until 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 own a leasehold flat in Hawkshead. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Hawkshead who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Hawkshead conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to finding a Hawkshead conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Hawkshead conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Hawkshead conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions has the firm carried out in Hawkshead in the last year?
- What are the costs for lease extension work?
Completion in due on the sale of our £ 275000 maisonette in Hawkshead next Monday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hawkshead?
For most leasehold sales in Hawkshead conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Hawkshead
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Hawkshead lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Hawkshead. Most leases is drafted differently and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- 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
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
I purchased a 2 bed flat in Hawkshead, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Hawkshead with an extended lease are worth £230,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2084
You have 58 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.