Fixed-fee leasehold conveyancing in Perry Barr:

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Perry Barr, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Perry Barr leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Perry Barr. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Perry Barr - then the leasehold title will always include the short particulars 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.

I am hoping to complete next month on a garden flat in Perry Barr. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Whether the lease restricts you from subletting the property, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be included in your report on your leasehold property in Perry Barr please enquire of your conveyancer in ahead of your conveyancing in Perry Barr

    • I have just appointed agents to market my 2 bed flat in Perry Barr.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

    It best that you 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 management companies 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.

    Last month I purchased a leasehold property in Perry Barr. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    Where the service charge has already been demanded from the previous owner 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).

    I am a negotiator for a busy estate agent office in Perry Barr where we see a number of leasehold sales derailed due to short leases. I have received contradictory information from local Perry Barr conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    I purchased a garden flat in Perry Barr, conveyancing was carried out 1998. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Perry Barr with over 90 years remaining are worth £251,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2083

    With just 58 years unexpired we estimate the premium for your lease extension to range between £24,700 and £28,600 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

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    Lease Extensions in Perry Barr