Examples of recent questions relating to leasehold conveyancing in Cambridge Heath
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cambridge Heath. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Cambridge Heath are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Cambridge Heath so you should seriously consider looking for a Cambridge Heath conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I own a leasehold house in Cambridge Heath. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Cambridge Heath who previously acted has now retired.What should I do?
First contact HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Cambridge Heath conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of apartments in Cambridge Heath both have approximately 50 years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Cambridge Heath. The lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
What are your top tips when it comes to choosing a Cambridge Heath conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Cambridge Heath conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Cambridge Heath conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions have they completed in Cambridge Heath in the last year?
All being well we will complete our sale of a £200000 flat in Cambridge Heath next week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Cambridge Heath?
Cambridge Heath conveyancing on leasehold flats more often than not requires the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Cambridge Heath. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement decision for a Cambridge Heath premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.