Liverpool leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Liverpool. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Liverpool - 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.
I have just appointed agents to market my 2 bed apartment in Liverpool.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – Do I pay up?
It best that you 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 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 today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Liverpool. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Liverpool are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Liverpool in which case you should be looking for a Liverpool conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. 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 requiring the landlord’spermission to conduct 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 part of an estate. Your lawyer will report to you on the legal implications.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325000 apartment in Liverpool next week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Liverpool?
Liverpool conveyancing on leasehold maisonettes more often than not requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to complete the sale of your home.
What are the frequently found problems that you come across in leases for Liverpool properties?
Leasehold conveyancing in Liverpool is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- 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. Accord Mortgages Ltd, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.
I am the registered owner of a studio flat in Liverpool, conveyancing was carried out in 1999. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Liverpool with over 90 years remaining are worth £245,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2080
With 59 years left to run we estimate the price of your lease extension to span between £25,700 and £29,600 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 renewing a lease, but we cannot give you the actual costs 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 considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Other Topics