Recently asked questions relating to Braintree leasehold conveyancing
I am on look out for some leasehold conveyancing in Braintree. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Braintree - 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 have just started marketing my garden flat in Braintree.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Braintree. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Braintree are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Braintree in which case you should be shopping around for a Braintree conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
What are your top tips when it comes to appointing a Braintree conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Braintree conveyancing firm) it is essential 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 Braintree conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
If all goes to plan we aim to complete the sale of our £500000 garden flat in Braintree next week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Braintree?
Braintree conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are entitled levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.
I acquired a studio flat in Braintree, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Braintree with a long lease are worth £191,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2092
You have 67 years unexpired the likely cost is going to range between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
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