Tewkesbury leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Tewkesbury. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Tewkesbury - 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.
Expecting to sign contracts shortly on a studio apartment in Tewkesbury. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Tewkesbury should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I have just appointed agents to market my ground floor flat in Tewkesbury.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – Do I pay up?
The sensible thing to do is pay 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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Tewkesbury. Conveyancing and Skipton Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Tewkesbury who acted for me is not around.What should I do?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Tewkesbury conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Tewkesbury. Do I have any liability for service charges for periods before completion of my purchase?
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. 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 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).
I purchased a ground floor flat in Tewkesbury, conveyancing was carried out 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Tewkesbury with a long lease are worth £245,000. The average or mid-range amount of ground rent is £60 yearly. The lease runs out on 21st October 2084
You have 61 years remaining on your lease the likely cost is going to range between £20,000 and £23,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.