Recently asked questions relating to Lechlade leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Lechlade. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Lechlade - 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.
Back In 2004, I bought a leasehold flat in Lechlade. Conveyancing and Britannia mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Lechlade who acted for me is not around.Any advice?
First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Lechlade conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to finding a Lechlade conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Lechlade conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Lechlade conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If they are not ALEP accredited then what is the reason?
- What are the charges for lease extension work?
All being well we will complete our sale of a £ 425000 flat in Lechlade next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lechlade?
Lechlade conveyancing on leasehold maisonettes typically necessitates administration charges levied by managing agents :
- Completing pre-contract enquiries
- Where consent is required before sale in Lechlade
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the common problems that you come across in leases for Lechlade properties?
Leasehold conveyancing in Lechlade is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- 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 primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
I bought a studio flat in Lechlade, conveyancing was carried out in 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Lechlade with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2084
With 58 years remaining on your lease we estimate the price of your lease extension to span between £24,700 and £28,600 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.