Guaranteed fixed fees for Leasehold Conveyancing in Kegworth

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Kegworth, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Kegworth leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Kegworth. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Kegworth - 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.

Due to exchange soon on a garden flat in Kegworth. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Kegworth should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the demise. This will be the flat itself but might incorporate a loft or cellar if appropriate.
  • Defining your legal entitlements in relation to the communal areas in the block.E.G., does the lease contain a right of way over a path or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Kegworth please enquire of your solicitor in ahead of your conveyancing in Kegworth

    • Back In 2007, I bought a leasehold house in Kegworth. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Kegworth who previously acted has now retired.What should I do?

    The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Kegworth conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of apartments in Kegworth both have in the region of forty five years remaining on the lease term. Will this present a problem?

    There are plenty of short leases in Kegworth. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    I work for a busy estate agency in Kegworth where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given contradictory information from local Kegworth conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    I am the registered owner of a garden flat in Kegworth, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in Kegworth with a long lease are worth £202,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2101

    With only 76 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Kegworth