Examples of recent questions relating to leasehold conveyancing in Whittlesey
I am in need of some leasehold conveyancing in Whittlesey. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Whittlesey - 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.
Due to complete next month on a garden flat in Whittlesey. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Whittlesey should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I've found a house that appears to tick a lot of boxes, at a reasonable 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 house with a leasehold title in Whittlesey. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Whittlesey are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Whittlesey so you should seriously consider shopping around for a Whittlesey conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
Last month I purchased a leasehold flat in Whittlesey. Am I liable to pay service charges for periods before completion of my purchase?
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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 flat in Whittlesey in just under a week. The freeholder has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Whittlesey?
For the majority of leasehold sales in Whittlesey conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Whittlesey
- 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 split level flat in Whittlesey, conveyancing was carried out 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Whittlesey with an extended lease are worth £172,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2081
With just 56 years remaining on your lease the likely cost is going to range between £26,600 and £30,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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