Recently asked questions relating to Market Weighton leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Market Weighton. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Market Weighton - 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 let out my leasehold apartment in Market Weighton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease governs relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Market Weighton do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Due to sign contracts shortly on a leasehold property in Market Weighton. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Market Weighton should include some of the following:
- The total extent of the premises. This will be the apartment itself but could also include a loft or basement if applicable.
Back In 2009, I bought a leasehold house in Market Weighton. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Market Weighton who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Market Weighton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to appointing a Market Weighton conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Market Weighton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Market Weighton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
I am the registered owner of a garden flat in Market Weighton, conveyancing was carried out 2004. Can you work out an approximate cost of a lease extension? Comparable properties in Market Weighton with over 90 years remaining are worth £220,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2094
With only 70 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as 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 extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.