Top Five Questions relating to Horfield leasehold conveyancing
I am in need of some leasehold conveyancing in Horfield. 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 Horfield - 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.
Looking forward to exchange soon on a ground floor flat in Horfield. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Horfield should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
I own a leasehold house in Horfield. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Horfield who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Horfield conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in Horfield. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation 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).
Can you offer any advice when it comes to appointing a Horfield conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Horfield conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Horfield 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 useful:
- How experienced is the firm with lease extension legislation?
I bought a 1 bedroom flat in Horfield, conveyancing having been completed 1999. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Horfield with an extended lease are worth £173,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease comes to an end on 21st October 2081
With just 58 years unexpired the likely cost is going to be between £24,700 and £28,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.