Common questions relating to Meliden leasehold conveyancing
I am on look out for some leasehold conveyancing in Meliden. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Meliden - 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 Meliden. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Meliden should include some of the following:
- Does the lease prevent you from renting out the property, or working from home
I’m about to sell my basement flat in Meliden.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold house in Meliden. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Meliden who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Meliden conveyancing firm to do this as it can be done on-line for less than a fiver. 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.
Do you have any advice for leasehold conveyancing in Meliden from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Meliden can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Meliden leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such alterations. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your conveyancer in the first instance.
I purchased a studio flat in Meliden, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Meliden with over 90 years remaining are worth £173,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2090
With just 69 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as 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 supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.