Examples of recent questions relating to leasehold conveyancing in Rayleigh
I own a leasehold house in Rayleigh. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Rayleigh who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Rayleigh conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of apartments in Rayleigh which have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field
Last month I purchased a leasehold property in Rayleigh. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation 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. However, 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 be sure 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).
Do you have any top tips for leasehold conveyancing in Rayleigh from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Rayleigh can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Rayleigh leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the paperwork in place do not communicate with the landlord without contacting your solicitor before hand.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £425000 maisonette in Rayleigh next week. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Rayleigh?
Rayleigh conveyancing on leasehold apartments often requires the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.
Leasehold Conveyancing in Rayleigh - A selection of Queries before Purchasing
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Is anyone aware of any major works anticipated that could add a premium to the service costs?
How is the lease structured?
It would be a good idea to find out if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in certain buildings in Rayleigh. If you love the flatin Rayleigh yet your dog can’t live with you then you have a very hard compromise.
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