Sample questions relating to Urmston leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Urmston. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Urmston - 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 would like to sublet my leasehold flat in Urmston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Urmston do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a leasehold flat in Urmston. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Urmston who previously acted has long since retired.What should I do?
First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Urmston conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two maisonettes in Urmston both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Urmston. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
I've recently bought a leasehold property in Urmston. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner 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).
I am the registered owner of a 1st floor flat in Urmston, conveyancing having been completed in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Urmston with over 90 years remaining are worth £235,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2100
With only 76 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.