Common questions relating to Buckley leasehold conveyancing
I have recently realised that I have Sixty One years remaining on my lease in Buckley. I now wish to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. In some cases a specialist would be useful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Buckley.
I own a leasehold flat in Buckley. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Buckley who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Buckley conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of maisonettes in Buckley both have approximately forty five years left on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
I work for a reputable estate agency in Buckley where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Buckley conveyancing solicitors. Please can you confirm whether the seller of a flat can start the lease extension process for the buyer?
As long as 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 buyer 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 before, 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 garden flat in Buckley next Wednesday . The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Buckley?
Buckley conveyancing on leasehold flats normally involves the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.
Buckley Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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How much is the service charge and ground rent on the flat?
On the whole the cost for major works tend not to be incorporated into the maintenance charges, although there some managing agents in Buckley require leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance.
The answer will be helpful as a) areas could cause problems in the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to have all the details
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