Abbots Langley leasehold conveyancing Example Support Desk Enquiries
I only have Fifty years left on my flat in Abbots Langley. I now wish to extend my lease but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the lessor. For most situations a specialist may be helpful to carry out a search and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Abbots Langley.
Estate agents have just been given the go-ahead to market my 2 bed flat in Abbots Langley.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Abbots Langley. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Abbots Langley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Abbots Langley so you should seriously consider looking for a Abbots Langley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being 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’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I've recently bought a leasehold property in Abbots Langley. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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).
What are the frequently found problems that you encounter in leases for Abbots Langley properties?
There is nothing unique about leasehold conveyancing in Abbots Langley. All leases are individual and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I invested in buying a basement flat in Abbots Langley, conveyancing having been completed in 2001. How much will my lease extension cost? Comparable properties in Abbots Langley with over 90 years remaining are worth £209,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2082
With 57 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
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