Recently asked questions relating to Liphook leasehold conveyancing
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Liphook. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Liphook ?
The majority of houses in Liphook are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Liphook so you should seriously consider looking for a Liphook 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 leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent 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 conveyancer should appraise you on the various issues.
I own a leasehold house in Liphook. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Liphook who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Liphook conveyancing practitioner 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 freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold flat in Liphook. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part 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).
What are your top tips when it comes to choosing a Liphook conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Liphook conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Liphook conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
We expect to complete the disposal of our £475000 garden flat in Liphook in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Liphook?
Liphook conveyancing on leasehold maisonettes usually requires the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I bought a 1 bedroom flat in Liphook, conveyancing was carried out in 2010. How much will my lease extension cost? Equivalent flats in Liphook with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2078
You have 53 years remaining on your lease the likely cost is going to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
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