Experts for Leasehold Conveyancing in Plymstock

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Recently asked questions relating to Plymstock leasehold conveyancing

You should [be sent a copy of the lease|receive a copy of the lease]

Due to sign contracts shortly on a studio apartment in Plymstock. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Plymstock should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames
For details of the information to be included in your report on your leasehold property in Plymstock please enquire of your solicitor in ahead of your conveyancing in Plymstock

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Plymstock. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Plymstock are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Plymstock in which case you should be shopping around for a Plymstock conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in Plymstock. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Plymstock who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Plymstock conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What advice can you give us when it comes to choosing a Plymstock conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Plymstock conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Plymstock 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 of use:

  • How familiar is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

Completion in due on the disposal of our £ 500000 garden flat in Plymstock on Friday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Plymstock?

Plymstock conveyancing on leasehold apartments normally requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to sell the property.

I acquired a 1 bedroom flat in Plymstock, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Plymstock with over 90 years remaining are worth £242,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2095

You have 69 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.