Common questions relating to Kelvedon leasehold conveyancing
I am on look out for some leasehold conveyancing in Kelvedon. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Kelvedon - 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.
Helen (my wife) and I may need to sub-let our Kelvedon ground floor flat for a while due to taking a sabbatical. We instructed a Kelvedon conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Kelvedon conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
Due to complete next month on a basement flat in Kelvedon. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kelvedon should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am tempted by the attractive purchase price for a couple of apartments in Kelvedon which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Kelvedon. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
Completion in due on our sale of a £125000 flat in Kelvedon in just under a week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Kelvedon?
Kelvedon conveyancing on leasehold flats more often than not requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I own a ground floor flat in Kelvedon, conveyancing having been completed in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Kelvedon with a long lease are worth £248,000. The ground rent is £60 invoiced annually. The lease terminates on 21st October 2083
You have 59 years left to run the likely cost is going to span between £21,900 and £25,200 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
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