Examples of recent questions relating to leasehold conveyancing in Shipley
I am on look out for some leasehold conveyancing in Shipley. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Shipley - 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.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Shipley. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Shipley are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Shipley in which case you should be looking for a Shipley conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Shipley. Conveyancing and Britannia mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Shipley who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Shipley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. 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 Shipley conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Shipley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Shipley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
We expect to complete the sale of our £400000 apartment in Shipley on Monday in a week. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Shipley?
Shipley conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to sell the property.
I am the registered owner of a ground floor flat in Shipley, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Shipley with an extended lease are worth £234,000. The ground rent is £50 per annum. The lease ends on 21st October 2098
With 74 years left to run we estimate the price of your lease extension to range between £12,400 and £14,200 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.