Plymstock leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Plymstock. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Plymstock - 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.
Expecting to sign contracts shortly on a basement flat in Plymstock. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Plymstock should include some of the following:
- The physical extent of the demise. This will be the property itself but might include a loft or basement if appropriate.
I have just started marketing my ground floor flat in Plymstock.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay 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.
My wife and I purchased a leasehold flat in Plymstock. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Plymstock who previously acted has now retired.What should I do?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Plymstock conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete the disposal of our £200000 apartment in Plymstock in 8 days. The management company has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Plymstock?
Plymstock conveyancing on leasehold maisonettes normally necessitates fees being invoiced by managing agents :
- Completing pre-contract questions
- Where consent is required before sale in Plymstock
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a split level flat in Plymstock, conveyancing was carried out 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Plymstock with over 90 years remaining are worth £242,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2075
You have 53 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.