Examples of recent questions relating to leasehold conveyancing in Llandaff
Due to complete next month on a studio apartment in Llandaff. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Llandaff should include some of the following:
- The physical extent of the demise. This will be the flat itself but may include a loft or cellar if appropriate.
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Llandaff. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Llandaff are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Llandaff in which case you should be shopping around for a Llandaff conveyancing solicitor and be sure that they are used to transacting on 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 to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
What are your top tips when it comes to finding a Llandaff conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Llandaff conveyancing firm) it is most important 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 Llandaff conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Llandaff from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Llandaff can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- Some Llandaff leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
All being well we will complete the disposal of our £275000 apartment in Llandaff on Friday in a week. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Llandaff?
Llandaff conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are entitled invoice a reasonable administration fee 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 in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I invested in buying a split level flat in Llandaff, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Llandaff with a long lease are worth £247,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2090
With 69 years unexpired the likely cost is going to be between £13,300 and £15,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.