Experts for Leasehold Conveyancing in Mickleover

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Examples of recent questions relating to leasehold conveyancing in Mickleover

Expecting to complete next month on a leasehold property in Mickleover. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Mickleover should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the property. This will be the flat itself but could also include a roof space or cellar if applicable.
  • Defining your rights in relation to common areas in the building.By way of example, does the lease grant a right of way over a path or staircase?
  • Does the lease prevent you from letting out the flat, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Mickleover please ask your lawyer in advance of your conveyancing in Mickleover

  • My wife and I purchased a leasehold flat in Mickleover. Conveyancing and Lloyds TSB Bank 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 1997. The conveyancing practitioner in Mickleover who acted for me is not around.What should I do?

    The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Mickleover conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a two apartments in Mickleover which have in the region of fifty years unexpired on the leases. Will this present a problem?

    There are plenty of short leases in Mickleover. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

    Can you offer any advice when it comes to appointing a Mickleover conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Mickleover conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Mickleover conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

    • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

  • Completion in due on the disposal of our £125000 flat in Mickleover on Wednesday in a week. The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Mickleover?

    Mickleover conveyancing on leasehold flats typically necessitates fees being levied by managing agents :

    • Completing conveyancing due diligence questions
    • Where consent is required before sale in Mickleover
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Mickleover leasehold property is £350. For Mickleover conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

    I inherited a leasehold flat in Mickleover, conveyancing was carried out 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Mickleover with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2084

    With 60 years unexpired the likely cost is going to span between £20,900 and £24,200 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. 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 should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Mickleover