Common questions relating to Bradley Stoke leasehold conveyancing
There are only Fifty years unexpired on my flat in Bradley Stoke. I am keen to extend my lease but my freeholder is absent. 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 apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. For most situations an enquiry agent would be useful to conduct investigations and to produce an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Bradley Stoke.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Bradley Stoke. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bradley Stoke ?
Most houses in Bradley Stoke are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Bradley Stoke in which case you should be shopping around for a Bradley Stoke conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
I've recently bought a leasehold flat in Bradley Stoke. Am I liable to pay service charges for periods before completion of my purchase?
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 be sure 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).
Can you provide any advice for leasehold conveyancing in Bradley Stoke from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bradley Stoke can be avoided 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’ solicitors.
- The majority landlords or managing agents in Bradley Stoke charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for 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 common cause of frustration in leasehold conveyancing in Bradley Stoke.
Completion in due on the disposal of our £275000 maisonette in Bradley Stoke in nine days. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Bradley Stoke?
Bradley Stoke conveyancing on leasehold apartments usually necessitates administration charges raised by freeholders :
- Addressing pre-contract enquiries
- Where consent is required before sale in Bradley Stoke
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a basement flat in Bradley Stoke, conveyancing having been completed in 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bradley Stoke with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2084
With just 63 years left to run the likely cost is going to be between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.