Recently asked questions relating to Liskeard leasehold conveyancing
I am in need of some leasehold conveyancing in Liskeard. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Liskeard - 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.
Estate agents have just been given the go-ahead to market my 2 bed flat in Liskeard.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Liskeard. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Liskeard ?
The majority of houses in Liskeard are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Liskeard so you should seriously consider looking for a Liskeard conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.
What advice can you give us when it comes to appointing a Liskeard conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Liskeard conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Liskeard conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
If all goes to plan we aim to complete the sale of our £150000 maisonette in Liskeard next Wednesday . The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Liskeard?
Liskeard conveyancing on leasehold flats often necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I own a basement flat in Liskeard, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Liskeard with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2092
With just 70 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.