Questions and Answers: Maidstone leasehold conveyancing
I am in need of some leasehold conveyancing in Maidstone. 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 almost all are in Maidstone - 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 exchange soon on a leasehold property in Maidstone. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Maidstone should include some of the following:
- You should be sent a copy of the lease
Last month I purchased a leasehold house in Maidstone. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 be sure 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 finding a Maidstone conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Maidstone conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Maidstone conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions has the firm conducted in Maidstone in the last twenty four months?
We expect to complete the disposal of our £150000 maisonette in Maidstone next Tuesday . The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Maidstone?
For the majority of leasehold sales in Maidstone conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract questions
- Where consent is required before sale in Maidstone
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a garden flat in Maidstone, conveyancing formalities finalised in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Maidstone with over 90 years remaining are worth £223,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2090
With 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
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