Questions and Answers: Kidlington leasehold conveyancing
Expecting to exchange soon on a basement flat in Kidlington. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Kidlington should include some of the following:
- The length of the 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Kidlington. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Kidlington are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Kidlington so you should seriously consider shopping around for a Kidlington conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.
My wife and I purchased a leasehold flat in Kidlington. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Kidlington who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Kidlington conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured 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've recently bought a leasehold property in Kidlington. Am I liable to pay service charges for periods before completion of my purchase?
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 be sure 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 finding a Kidlington conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Kidlington conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Kidlington 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 many lease extensions have they completed in Kidlington in the last year?
Leasehold Conveyancing in Kidlington - Examples of Questions you should ask Prior to Purchasing
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Best to be warned if a new roof is being put on or some other significant cost is pending that will be shared amongst the tenants and could well dramatically impact the level of the maintenance charges or result in a specific payment.
What restrictions are there in the Kidlington Lease?
Who are the managing agents?
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