Recently asked questions relating to Kempston leasehold conveyancing
Due to sign contracts shortly on a leasehold property in Kempston. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kempston should include some of the following:
- The total extent of the premises. This will be the property itself but could also include a loft or cellar if applicable.
I’m about to sell my ground floor apartment in Kempston.Conveyancing has not commenced but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Back In 2001, I bought a leasehold house in Kempston. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Kempston who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to instruct a Kempston conveyancing lawyer to do this as you can do this on the Land Registry website for £3. 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.
What advice can you give us when it comes to choosing a Kempston conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Kempston conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Kempston conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then why not?
All being well we will complete the disposal of our £475000 apartment in Kempston next Wednesday . The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Kempston?
Kempston conveyancing on leasehold apartments typically necessitates administration charges invoiced by managing agents :
- Answering pre-exchange enquiries
- Where consent is required before sale in Kempston
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a studio flat in Kempston, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Kempston with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2103
With 79 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account 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.
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