Questions and Answers: Blackwood leasehold conveyancing
I am in need of some leasehold conveyancing in Blackwood. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Blackwood - 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.
I only have Seventy years left on my lease in Blackwood. I now want to extend my lease but my freeholder is can not be found. 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. On the whole a specialist may be useful to carry out a search and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Blackwood.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Blackwood. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Blackwood ?
Most houses in Blackwood are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Blackwood so you should seriously consider looking for a Blackwood conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
Do you have any top tips for leasehold conveyancing in Blackwood from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Blackwood can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or managing agents in Blackwood levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Blackwood.
If all goes to plan we aim to complete the sale of our £275000 apartment in Blackwood on Wednesday in a week. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Blackwood?
For the majority of leasehold sales in Blackwood conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Blackwood
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 1 bedroom flat in Blackwood, conveyancing having been completed 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Blackwood with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2096
With 75 years unexpired the likely cost is going to range between £10,500 and £12,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. 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.