Quality lawyers for Leasehold Conveyancing in Waddon

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Top Five Questions relating to Waddon leasehold conveyancing

I am on look out for some leasehold conveyancing in Waddon. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Waddon - 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.

Due to sign contracts shortly on a garden flat in Waddon. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Waddon should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Waddon please ask your solicitor in advance of your conveyancing in Waddon

  • I have just appointed agents to market my basement flat in Waddon.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

    It best that you discharge 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 managing agents 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. This will smooth the conveyancing process.

    My wife and I purchased a leasehold flat in Waddon. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Waddon who acted for me is not around.What should I do?

    The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Waddon conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of flats in Waddon which have about forty five years left on the lease term. should I be concerned?

    A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

    I am the leaseholder of a ground-floor 1950’s flat in Waddon. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

    in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price.

    An example of a Freehold Enfranchisement case for a Waddon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The the unexpired residue of the current lease was 98 years.

    Other Topics

    Lease Extensions in Waddon