Dartmouth Park leasehold conveyancing Example Support Desk Enquiries
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Dartmouth Park. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Dartmouth Park ?
Most houses in Dartmouth Park are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Dartmouth Park so you should seriously consider shopping around for a Dartmouth Park conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.
My wife and I purchased a leasehold house in Dartmouth Park. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Dartmouth Park who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Dartmouth Park conveyancing firm to do this as it can be done on-line for less than a fiver. 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.
Do you have any top tips for leasehold conveyancing in Dartmouth Park from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Dartmouth Park can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Dartmouth Park levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Dartmouth Park.
Completion in due on our sale of a £450000 apartment in Dartmouth Park next Wednesday . The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Dartmouth Park?
Dartmouth Park conveyancing on leasehold flats normally necessitates the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Dartmouth Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Lease Extension case for a Dartmouth Park residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The the unexpired term as at the valuation date was 64.77 years.
What makes a Dartmouth Park lease problematic?
Leasehold conveyancing in Dartmouth Park is not unique. All leases is drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Clydesdale all have very detailed 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 provide security, forcing the buyer to pull out.