Portslade leasehold conveyancing: Q and A’s
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Portslade. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Portslade are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Portslade in which case you should be shopping around for a Portslade conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
I own a leasehold flat in Portslade. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Portslade who previously acted has long since retired.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Portslade conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to choosing a Portslade conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Portslade conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Portslade conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Portslade from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Portslade can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
- Many landlords or managing agents in Portslade levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Portslade.
All being well we will complete the disposal of our £425000 garden flat in Portslade next week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Portslade?
Portslade conveyancing on leasehold maisonettes normally requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Portslade - A selection of Queries before Purchasing
What restrictions exist in the Portslade Lease?
Who are the managing agents?
You should be aware if it is less than 80 years it will have adverse implications on the value of the apartment. Check with your mortgage company that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Portsladelease extensions you would be be obliged to have been the owner of the property for 24 months before you are entitled to carry out a lease extension.