Questions and Answers: Polegate leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Polegate. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Polegate - then the leasehold title will always include the basic details 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.
Estate agents have just been given the go-ahead to market my basement flat in Polegate.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge 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 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.
Back In 2005, I bought a leasehold house in Polegate. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Polegate who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Polegate conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. 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.
Last month I purchased a leasehold house in Polegate. Do I have any liability for 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. A critical element 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).
All being well we will complete the sale of our £500000 garden flat in Polegate in 8 days. The management company has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Polegate?
Polegate conveyancing on leasehold maisonettes nine out of ten times involves fees being raised by landlords agents :
- Answering pre-exchange enquiries
- Where consent is required before sale in Polegate
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a basement flat in Polegate, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Polegate with a long lease are worth £261,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2081
With just 56 years unexpired we estimate the price of your lease extension to range between £24,700 and £28,600 plus costs.
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 investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
Other Topics