Lydney leasehold conveyancing Example Support Desk Enquiries
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Lydney. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Lydney are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Lydney so you should seriously consider looking for a Lydney conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
My wife and I purchased a leasehold flat in Lydney. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Lydney who previously acted has long since retired.Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lydney conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agency in Lydney where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Lydney conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you provide any top tips for leasehold conveyancing in Lydney from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lydney can be bypassed if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
- Many freeholders or managing agents in Lydney levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Lydney.
Completion in due on the disposal of our £325000 maisonette in Lydney next Monday . The freeholder has quoted £336 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 Lydney?
For most leasehold sales in Lydney conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Lydney
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Lydney Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
How is the lease structured?
Its a good idea to discover as much as possible regarding the managing agents as they can either make life much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. You should not be afraid to ask other people what they think of their management. On a final note, investigate as to the dates that the maintenance charges are due to the managing agents and specifically what you get for your money.
Who takes charge for maintaining and repairing the block?