Recently asked questions relating to Histon leasehold conveyancing
I am on look out for some leasehold conveyancing in Histon. Before diving in I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Histon - then the leasehold title will always include the basic details 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.
Back In 2009, I bought a leasehold house in Histon. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Histon who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR 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 incur the fees of a Histon conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured 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.
I've recently bought a leasehold flat in Histon. Do I have any liability for service charges relating to a period prior to 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. However, 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).
Can you offer any advice when it comes to appointing a Histon conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Histon conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Histon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
- How many lease extensions have they conducted in Histon in the last 12 months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 400000 apartment in Histon in 10 days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Histon?
Histon conveyancing on leasehold flats often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I purchased a garden flat in Histon, conveyancing formalities finalised in 2000. How much will my lease extension cost? Corresponding flats in Histon with an extended lease are worth £168,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2084
With just 58 years unexpired the likely cost is going to be between £24,700 and £28,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.