Recently asked questions relating to Ascot leasehold conveyancing
I only have 72 years left on my flat in Ascot. I now wish to extend my lease but my landlord 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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the lessor. On the whole a specialist would be useful to carry out a search and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Ascot.
Due to complete next month on a studio apartment in Ascot. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Ascot should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
I have just appointed agents to market my 2 bed flat in Ascot.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents will not acknowledge the buyer unless 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 own a leasehold house in Ascot. Conveyancing and TSB mortgage organised. 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 1994. The conveyancing practitioner in Ascot who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Ascot conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
If all goes to plan we aim to complete the disposal of our £450000 garden flat in Ascot next Friday . The landlords agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Ascot?
Ascot conveyancing on leasehold apartments usually involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the registered owner of a garden flat in Ascot, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Ascot with an extended lease are worth £225,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2080
With 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
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