Examples of recent questions relating to leasehold conveyancing in Pentyrch
Looking forward to sign contracts shortly on a ground floor flat in Pentyrch. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Pentyrch should include some of the following:
- You should be told what constitutes a Nuisance in the lease
Estate agents have just been given the go-ahead to market my garden flat in Pentyrch.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – 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 until 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. This will smooth the conveyancing process.
Can you offer any advice when it comes to finding a Pentyrch conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Pentyrch conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Pentyrch 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 helpful:
- If the firm is not ALEP accredited then why not?
Completion in due on our sale of a £175000 maisonette in Pentyrch on Wednesday in a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Pentyrch?
Pentyrch conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Pentyrch
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
In relation to leasehold conveyancing in Pentyrch what are the most common lease defects?
Leasehold conveyancing in Pentyrch is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
Pentyrch Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
What is the yearly maintenance fee and ground rent?
Please note that where the lease has fewer than eighty years it will impact the marketability of the flat. Check with your mortgage company that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Pentyrchlease extensions you will be required to have been the owner of the premises for a couple of years in order to be eligible to exercise a lease extension.
Is anyone aware of any major works in the near future that will add a premium to the service fees?