Recently asked questions relating to Mickleover leasehold conveyancing
I have just started marketing my ground floor apartment in Mickleover.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?
It best that you discharge the invoice 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.
I own a leasehold flat in Mickleover. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Mickleover who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Mickleover conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Mickleover with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Mickleover can be reduced if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
- Many landlords or managing agents in Mickleover levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Mickleover.
All being well we will complete the sale of our £300000 garden flat in Mickleover in 10 days. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Mickleover?
Mickleover conveyancing on leasehold flats ordinarily necessitates fees being invoiced by managing agents :
- Completing pre-contract enquiries
- Where consent is required before sale in Mickleover
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Are there frequently found problems that you witness in leases for Mickleover properties?
There is nothing unique about leasehold conveyancing in Mickleover. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
I purchased a 1st floor flat in Mickleover, conveyancing having been completed in 2008. Can you work out an approximate cost of a lease extension? Corresponding properties in Mickleover with over 90 years remaining are worth £189,000. The ground rent is £60 per annum. The lease runs out on 21st October 2098
You have 75 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 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 comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional 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 before seeking the advice of a professional.