Quality lawyers for Leasehold Conveyancing in Kemp Town

When it comes to leasehold conveyancing in Kemp Town, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Kemp Town

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Kemp Town. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Kemp Town are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Kemp Town so you should seriously consider shopping around for a Kemp Town conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I own a leasehold house in Kemp Town. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Kemp Town who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Kemp Town conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Kemp Town both have in the region of forty five years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Kemp Town. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Kemp Town with the intention of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Kemp Town can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • The majority landlords or managing agents in Kemp Town charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Kemp Town.
  • A minority of Kemp Town leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Completion in due on our sale of a £300000 flat in Kemp Town next Monday . The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kemp Town?

    Kemp Town conveyancing on leasehold apartments normally involves administration charges invoiced by managing agents :

    • Answering conveyancing due diligence enquiries
    • Where consent is required before sale in Kemp Town
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Kemp Town leasehold property is £350. For Kemp Town conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

    I invested in buying a leasehold flat in Kemp Town, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Kemp Town with a long lease are worth £262,000. The ground rent is £65 yearly. The lease terminates on 21st October 2097

    With only 73 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Kemp Town