Sample questions relating to Lisvane leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Lisvane. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Lisvane - 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.
Looking forward to exchange soon on a leasehold property in Lisvane. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Lisvane should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I’m about to sell my basement flat in Lisvane.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?
The sensible thing to do is clear 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Lisvane. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Lisvane ?
Most houses in Lisvane are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Lisvane in which case you should be looking for a Lisvane conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.
What advice can you give us when it comes to choosing a Lisvane conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Lisvane conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Lisvane conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- If the firm is not ALEP accredited then what is the reason?
I own a leasehold flat in Lisvane, conveyancing having been completed 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Lisvane with a long lease are worth £225,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2095
With 74 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.