Examples of recent questions relating to leasehold conveyancing in Buckley
I have recently realised that I have 72 years remaining on my lease in Buckley. I need to extend my lease but my landlord is can not be found. 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 extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases a specialist should be useful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Buckley.
Back In 2003, I bought a leasehold house in Buckley. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Buckley who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Buckley conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agency in Buckley where we have witnessed a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Buckley conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means 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 prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 buyer.
What are your top tips when it comes to appointing a Buckley conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Buckley conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Buckley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Buckley with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Buckley can be avoided if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
- The majority landlords or Management Companies in Buckley levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Buckley.
I acquired a basement flat in Buckley, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Comparable flats in Buckley with an extended lease are worth £183,000. The ground rent is £55 yearly. The lease expires on 21st October 2085
With 63 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.