Frequently asked questions relating to Long Hanborough leasehold conveyancing
I am on look out for some leasehold conveyancing in Long Hanborough. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Long Hanborough - then the leasehold title will always include the short particulars 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.
I wish to sublet my leasehold flat in Long Hanborough. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
The lease dictates relations between the freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Long Hanborough do not prevent subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Back In 2004, I bought a leasehold house in Long Hanborough. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Long Hanborough who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Long Hanborough conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold property in Long Hanborough. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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).
If all goes to plan we aim to complete the sale of our £225000 garden flat in Long Hanborough in 10 days. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Long Hanborough?
Long Hanborough conveyancing on leasehold apartments normally necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £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, without which the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
I acquired a 1st floor flat in Long Hanborough, conveyancing was carried out 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Long Hanborough with over 90 years remaining are worth £255,000. The ground rent is £60 levied per year. The lease runs out on 21st October 2091
With just 66 years left to run we estimate the premium for your lease extension to be between £14,300 and £16,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
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