Sample questions relating to Tonteg leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Tonteg. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Tonteg - 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.
I own a leasehold house in Tonteg. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Tonteg who previously acted has now retired.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Tonteg conveyancing lawyer 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold house in Tonteg. Do I have any liability for service charges relating to a period prior to my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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 Tonteg with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Tonteg can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers conveyancers.
- The majority freeholders or Management Companies in Tonteg charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Tonteg.
All being well we will complete our sale of a £325000 maisonette in Tonteg next week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Tonteg?
Tonteg conveyancing on leasehold apartments typically results in administration charges invoiced by freeholders :
- Answering pre-contract questions
- Where consent is required before sale in Tonteg
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a 2 bed flat in Tonteg, conveyancing was carried out 2007. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Tonteg with an extended lease are worth £208,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2078
With only 53 years unexpired the likely cost is going to be between £35,200 and £40,600 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously 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.
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