Battle leasehold conveyancing Example Support Desk Enquiries
I only have Fifty years left on my flat in Battle. I am keen to extend my lease but my landlord is absent. What options are available to me?
If 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 enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist may be helpful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Battle.
I've recently bought a leasehold house in Battle. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. It is an essential part 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).
I am a negotiator for a long established estate agency in Battle where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Battle conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible 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.
Can you provide any top tips for leasehold conveyancing in Battle with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Battle can be reduced where you appoint lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
- Many freeholders or managing agents in Battle levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Battle.
What makes a Battle lease problematic?
Leasehold conveyancing in Battle is not unique. All leases are unique and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I am the registered owner of a ground floor flat in Battle, conveyancing having been completed in 2003. How much will my lease extension cost? Corresponding flats in Battle with a long lease are worth £195,000. The ground rent is £60 charged once a year. The lease finishes on 21st October 2088
With just 66 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.