Common questions relating to Bishops Cleeve leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Bishops Cleeve. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Bishops Cleeve - 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.
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Bishops Cleeve. I need to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 demonstrate that you have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent should be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Bishops Cleeve.
Estate agents have just been given the go-ahead to market my basement apartment in Bishops Cleeve.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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.
I own a leasehold flat in Bishops Cleeve. Conveyancing and Barnsley Building Society mortgage are in place. 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 1995. The conveyancing solicitor in Bishops Cleeve who previously acted has now retired.What should I do?
First contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Bishops Cleeve conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Are there common deficiencies that you see in leases for Bishops Cleeve properties?
Leasehold conveyancing in Bishops Cleeve is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could 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. Accord Mortgages Ltd, Coventry Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
I own a 2 bed flat in Bishops Cleeve, conveyancing was carried out in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Bishops Cleeve with over 90 years remaining are worth £203,000. The ground rent is £65 yearly. The lease finishes on 21st October 2088
With only 66 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.