Rye leasehold conveyancing Example Support Desk Enquiries
Expecting to complete next month on a studio apartment in Rye. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Rye should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
- Whether your lease has a provision for a reserve fund?
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- 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
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
I have just started marketing my ground floor flat in Rye.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – 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 2004, I bought a leasehold flat in Rye. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Rye who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Rye conveyancing lawyer to do this as it can be done on-line for a few pound. You should note 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.
Can you offer any advice when it comes to appointing a Rye conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Rye conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Rye conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
- Can they put you in touch with client in Rye who can give a testimonial?
All being well we will complete our sale of a £ 300000 apartment in Rye in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Rye?
Rye conveyancing on leasehold maisonettes normally necessitates administration charges levied by landlords agents :
- Answering pre-contract enquiries
- Where consent is required before sale in Rye
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a basement flat in Rye, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Rye with over 90 years remaining are worth £182,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2093
With just 67 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as legals.
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 due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.