Common questions relating to Turvey leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Turvey. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Turvey - 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Turvey. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Turvey are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Turvey so you should seriously consider looking for a Turvey conveyancing solicitor and be sure that they have experience in dealing with 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 such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I've recently bought a leasehold flat in Turvey. Do I have any liability for service charges for periods before 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 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).
What are your top tips when it comes to choosing a Turvey conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Turvey conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Turvey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- Can they put you in touch with client in Turvey who can give a testimonial?
All being well we will complete the sale of our £500000 flat in Turvey next week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Turvey?
Turvey conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
Turvey Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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It is important to be aware if changing the roof or some other major work is anticipated that will be shared between the leasehold owners and could well dramatically impact the level of the maintenance costs or necessitate a specific invoice.
This information is important as a) areas can cause problems in the building as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the running of the building you will need to have full disclosure
How much is the ground rent and service charge?
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