Recently asked questions relating to Accrington leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years left on my flat in Accrington. I need to get lease extension but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Accrington.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Accrington. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Accrington ?
The majority of houses in Accrington are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Accrington so you should seriously consider shopping around for a Accrington conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
I've recently bought a leasehold house in Accrington. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, 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).
Can you offer any advice when it comes to finding a Accrington conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Accrington conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Accrington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How many lease extensions have they conducted in Accrington in the last 12 months?
Can you provide any advice for leasehold conveyancing in Accrington with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Accrington can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
- The majority freeholders or Management Companies in Accrington charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Accrington.
I inherited a leasehold flat in Accrington, conveyancing having been completed 4 years ago. How much will my lease extension cost? Equivalent flats in Accrington with over 90 years remaining are worth £235,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2085
You have 64 years left to run the likely cost is going to span between £13,300 and £15,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.