Common questions relating to Crews Hill leasehold conveyancing
Expecting to exchange soon on a ground floor flat in Crews Hill. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Crews Hill should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Whether the lease restricts you from subletting the property, or working from home
- Whether your lease has a provision for a reserve fund?
- You should have a good understanding of the insurance provisions
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- Responsibility for repairing the window frames
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Crews Hill. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Crews Hill ?
The majority of houses in Crews Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Crews Hill so you should seriously consider shopping around for a Crews Hill conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
Last month I purchased a leasehold flat in Crews Hill. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to appointing a Crews Hill conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Crews Hill conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Crews Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
- If they are not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 450000 garden flat in Crews Hill next Tuesday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> 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 leasehold conveyance in Crews Hill?
Crews Hill conveyancing on leasehold flats normally necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty levy a reasonable charge for answering questions 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 cases it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you if you want to complete the sale of your home.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Crews Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Crews Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Crews Hill residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired residue of the current lease was 70.31 years.
I purchased a studio flat in Crews Hill, conveyancing having been completed in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Crews Hill with over 90 years remaining are worth £243,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2083
With just 57 years remaining on your lease we estimate the premium for your lease extension to span between £30,400 and £35,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional 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 without first seeking the advice of a professional.