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Recently asked questions relating to Bozeat leasehold conveyancing

I am on look out for some leasehold conveyancing in Bozeat. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Bozeat - then the leasehold title will always include the basic details 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 have recently realised that I have 72 years unexpired on my flat in Bozeat. I am keen to get lease extension but my freeholder is can not be found. 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. In some cases a specialist should be useful to carry out a search and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Bozeat.

I own a leasehold house in Bozeat. Conveyancing and Norwich and Peterborough 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 ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bozeat who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Bozeat conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any advice for leasehold conveyancing in Bozeat with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Bozeat can be bypassed if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers representatives.
  • The majority landlords or managing agents in Bozeat levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Bozeat.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Bozeat state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor first.
  • A minority of Bozeat leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming process and delays many a Bozeat conveyancing deal. Where a duplicate share is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • Completion in due on the disposal of our £225000 flat in Bozeat next Friday . The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Bozeat?

    Bozeat conveyancing on leasehold flats normally requires the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases 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 respect of administration fees, 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 exchange contracts with the buyer.

    Leasehold Conveyancing in Bozeat - A selection of Questions you should ask before Purchasing

      What is the maintenance charge and ground rent on the property? This information is important as a) areas can cause problems for the building as the communal areas may begin to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will want to have all the details Best to be warned whether fixing the lift or some other significant cost is due in the near future to be shared by the leaseholders and will materially increase the the maintenance charges or result in a specific invoice.

    Other Topics

    Lease Extensions in Bozeat