Bartley Green leasehold conveyancing: Q and A’s
I only have Fifty years left on my flat in Bartley Green. I am keen to get lease extension but my freeholder is can not be found. What should I do?
On the basis that 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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent would be helpful to carry out a search and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Bartley Green.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Bartley Green.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge 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 management companies will not acknowledge the buyer until 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.
My wife and I purchased a leasehold flat in Bartley Green. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Bartley Green who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Bartley Green conveyancing firm to do this as it can be done on-line for less than a fiver. 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 looking at a two maisonettes in Bartley Green both have in the region of fifty years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Bartley Green is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bartley Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
If all goes to plan we aim to complete the sale of our £150000 maisonette in Bartley Green next Friday . The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Bartley Green?
Bartley Green conveyancing on leasehold apartments normally requires the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. In reality you have 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 Bartley Green, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Bartley Green with a long lease are worth £228,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2086
You have 64 years unexpired we estimate the premium for your lease extension to range between £18,100 and £20,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
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