Barnard Castle leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have 72 years remaining on my lease in Barnard Castle. I need to get lease extension but my freeholder is absent. 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 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 prove that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases an enquiry agent may be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Barnard Castle.
I have just appointed agents to market my basement apartment in Barnard Castle.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?
It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am looking at a couple of apartments in Barnard Castle which have in the region of 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Barnard Castle. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to appointing a Barnard Castle conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Barnard Castle conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Barnard Castle conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- What volume of lease extensions has the firm completed in Barnard Castle in the last 12 months?
We expect to complete our sale of a £450000 apartment in Barnard Castle next Thursday . The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Barnard Castle?
Barnard Castle conveyancing on leasehold flats usually requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be willing to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the registered owner of a 1st floor flat in Barnard Castle, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Barnard Castle with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2091
With just 70 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.