Recently asked questions relating to Ulverston leasehold conveyancing
I am in need of some leasehold conveyancing in Ulverston. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Ulverston - 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.
Planning to complete next month on a studio apartment in Ulverston. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Ulverston should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I own a leasehold flat in Ulverston. Conveyancing and Barclays Direct 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 1992. The conveyancing solicitor in Ulverston who previously acted has long since retired.What should I do?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Ulverston conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note 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 house in Ulverston. Am I liable to pay 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. However, 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).
Completion in due on our sale of a £200000 maisonette in Ulverston next week. The management company 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 Ulverston?
Ulverston conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I bought a 1st floor flat in Ulverston, conveyancing was carried out 2001. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Ulverston with over 90 years remaining are worth £178,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2085
With only 62 years left to run we estimate the price of your lease extension to be between £17,100 and £19,800 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.