Questions and Answers: Wraysbury leasehold conveyancing
I am on look out for some leasehold conveyancing in Wraysbury. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Wraysbury - then the leasehold title will always include the short particulars 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 wish to rent out my leasehold apartment in Wraysbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Wraysbury conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person prior to subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Wraysbury. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Wraysbury ?
The majority of houses in Wraysbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Wraysbury so you should seriously consider looking for a Wraysbury conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold house in Wraysbury. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Wraysbury who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Wraysbury conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Wraysbury. 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 own a garden flat in Wraysbury, conveyancing having been completed 2008. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Wraysbury with an extended lease are worth £230,000. The ground rent is £60 per annum. The lease terminates on 21st October 2098
With 73 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
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