Top Five Questions relating to Whitland leasehold conveyancing
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Whitland. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Whitland are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Whitland so you should seriously consider looking for a Whitland conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Whitland. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Whitland who previously acted has long since retired.What should I do?
First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Whitland conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Whitland conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Whitland conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Whitland conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then why not?
Do you have any top tips for leasehold conveyancing in Whitland from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Whitland can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
- The majority landlords or managing agents in Whitland levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Whitland.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £150000 maisonette in Whitland on Tuesday in a week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Whitland?
Whitland conveyancing on leasehold flats typically results in fees being invoiced by freeholders :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Whitland
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a ground floor flat in Whitland, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Whitland with over 90 years remaining are worth £254,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2100
You have 79 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.