Burnham leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Burnham. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Burnham - 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Burnham. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Burnham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Burnham in which case you should be shopping around for a Burnham conveyancing solicitor and check that they have experience in 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 will likely included provisions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2000, I bought a leasehold house in Burnham. Conveyancing and Aldermore mortgage went though with no issue. 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 1996. The conveyancing solicitor in Burnham who previously acted has long since retired.Any advice?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Burnham conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a reputable estate agency in Burnham where we see a few leasehold sales derailed due to short leases. I have received inconsistent advice from local Burnham conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 garden flat in Burnham next week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Burnham?
Burnham conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be willing to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I own a leasehold flat in Burnham, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Burnham with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2091
With 67 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 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 advice on the actual costs without more 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 you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
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