Aberystwyth leasehold conveyancing Example Support Desk Enquiries
There are only Sixty One years remaining on my flat in Aberystwyth. I am keen to extend my lease but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. For most situations a specialist may be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Aberystwyth.
I own a leasehold house in Aberystwyth. Conveyancing and Halifax mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Aberystwyth who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Aberystwyth conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of maisonettes in Aberystwyth both have approximately 50 years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area
What are your top tips when it comes to finding a Aberystwyth conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Aberystwyth conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Aberystwyth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then why not?
What makes a Aberystwyth lease unmortgageable?
There is nothing unique about leasehold conveyancing in Aberystwyth. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
Leasehold Conveyancing in Aberystwyth - Sample of Queries before buying
What restrictions exist in the Aberystwyth Lease?
Is there a share of the freehold?
Be sure to discover if the the lease includes any unreasonable restrictions in the lease. For example it is very common in Aberystwyth leases that pets are not allowed in certain buildings in Aberystwyth. If you love the propertyin Aberystwyth however your cat can’t make the move with you then you have a very difficult choice.