Sample questions relating to Kings Heath leasehold conveyancing
I am in need of some leasehold conveyancing in Kings Heath. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Kings Heath - 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.
Frank (my husband) and I may need to sub-let our Kings Heath 1st floor flat temporarily due to taking a sabbatical. We used a Kings Heath conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Kings Heath do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Kings Heath.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 management companies will not acknowledge the buyer unless 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.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Kings Heath. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Kings Heath ?
Most houses in Kings Heath are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Kings Heath so you should seriously consider shopping around for a Kings Heath conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
Do you have any advice for leasehold conveyancing in Kings Heath with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kings Heath can be avoided where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
- Many freeholders or Management Companies in Kings Heath levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. 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 Kings Heath.
I am the registered owner of a 1st floor flat in Kings Heath, conveyancing formalities finalised 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Kings Heath with a long lease are worth £190,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2084
With 63 years unexpired we estimate the premium for your lease extension to range between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.