Treuddyn leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Treuddyn. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Treuddyn - 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 am hoping to complete next month on a studio apartment in Treuddyn. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Treuddyn should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
I've found a house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Treuddyn. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Treuddyn ?
The majority of houses in Treuddyn are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Treuddyn so you should seriously consider shopping around for a Treuddyn conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.
Back In 2000, I bought a leasehold flat in Treuddyn. Conveyancing and Halifax 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 ground rent demand for rent dating back to 1996. The conveyancing solicitor in Treuddyn who previously acted has now retired.Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Treuddyn conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Completion in due on the sale of our £175000 apartment in Treuddyn on Thursday in a week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Treuddyn?
Treuddyn conveyancing on leasehold flats typically results in fees being invoiced by landlords agents :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Treuddyn
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a basement flat in Treuddyn, conveyancing formalities finalised 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Treuddyn with an extended lease are worth £187,000. The ground rent is £60 yearly. The lease ends on 21st October 2085
With 64 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.