Frequently asked questions relating to Kempston leasehold conveyancing
I am on look out for some leasehold conveyancing in Kempston. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Kempston - 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.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Kempston. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Kempston are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Kempston so you should seriously consider looking for a Kempston conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As 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 alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
What are your top tips when it comes to choosing a Kempston conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Kempston conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Kempston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Kempston with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Kempston can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Kempston state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the consents in place you should not communicate with the landlord without contacting your solicitor before hand.
If all goes to plan we aim to complete the sale of our £225000 apartment in Kempston next week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kempston?
Kempston conveyancing on leasehold maisonettes usually involves the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
Leasehold Conveyancing in Kempston - A selection of Queries before buying
Is there a share of the freehold?
How much is the yearly maintenance fee and ground rent?
Plenty Kempston leasehold apartments will incur a service bill for the upkeep of the block levied by the management company. If you acquire the property you will have to meet this liability, usually in instalments during the year. This can vary from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you need to enquire as sometimes it can be prohibitively expensive.