Questions and Answers: Onslow Village leasehold conveyancing
My wife and I purchased a leasehold house in Onslow Village. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Onslow Village who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Onslow Village conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Onslow Village. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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 advice can you give us when it comes to appointing a Onslow Village conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Onslow Village conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Onslow Village conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions have they completed in Onslow Village in the last twenty four months?
Do you have any top tips for leasehold conveyancing in Onslow Village with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Onslow Village can be avoided if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Onslow Village state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the paperwork in place do not contact the landlord without contacting your conveyancer in advance.
Completion in due on the disposal of our £125000 flat in Onslow Village on Monday in a week. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Onslow Village?
Onslow Village conveyancing on leasehold flats normally involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to sell the property.
I invested in buying a 1 bedroom flat in Onslow Village, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Onslow Village with an extended lease are worth £232,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2087
With just 62 years unexpired we estimate the price of your lease extension to span between £17,100 and £19,800 plus professional fees.
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 without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
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