Sample questions relating to Acocks Green leasehold conveyancing
I am in need of some leasehold conveyancing in Acocks Green. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Acocks Green - 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.
I have recently realised that I have 68 years remaining on my lease in Acocks Green. I now wish to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you meet the appropriate requirements, 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 extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the freeholder. On the whole a specialist should be helpful to try and locate and to produce a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Acocks Green.
I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Acocks Green. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Acocks Green are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Acocks Green so you should seriously consider shopping around for a Acocks Green conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
I am a negotiator for a long established estate agent office in Acocks Green where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Acocks Green conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
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.
Completion in due on our sale of a £200000 flat in Acocks Green in just under a week. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Acocks Green?
Acocks Green conveyancing on leasehold apartments ordinarily results in fees being levied by freeholders :
- Addressing pre-contract questions
- Where consent is required before sale in Acocks Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a 2 bed flat in Acocks Green, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Acocks Green with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2101
You have 76 years unexpired the likely cost is going to be between £10,500 and £12,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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