Recently asked questions relating to Kidwelly leasehold conveyancing
I am in need of some leasehold conveyancing in Kidwelly. Before I get started I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Kidwelly - 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.
My wife and I purchased a leasehold house in Kidwelly. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Kidwelly who previously acted has now retired.Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Kidwelly conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to finding a Kidwelly conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Kidwelly conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Kidwelly conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How many lease extensions has the firm carried out in Kidwelly in the last year?
Can you provide any advice for leasehold conveyancing in Kidwelly from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Kidwelly can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Kidwelly state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you fail to have the consents to hand do not contact the landlord without checking with your solicitor before hand.
What makes a Kidwelly lease problematic?
There is nothing unique about leasehold conveyancing in Kidwelly. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Skipton Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.
I acquired a garden flat in Kidwelly, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Kidwelly with an extended lease are worth £213,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2094
You have 71 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.