Top Five Questions relating to Caerwys leasehold conveyancing
I am on look out for some leasehold conveyancing in Caerwys. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Caerwys - 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.
Having checked my lease I have discovered that there are only 68 years left on my flat in Caerwys. I am keen to get lease extension but my freeholder is can not be found. What should I do?
On the basis that 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 granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent should be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Caerwys.
I have just started marketing my garden flat in Caerwys.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Caerwys. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Caerwys ?
Most houses in Caerwys are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Caerwys so you should seriously consider looking for a Caerwys conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
Can you provide any top tips for leasehold conveyancing in Caerwys from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Caerwys can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Caerwys state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such changes. Where you fail to have the paperwork to hand you should not contact the landlord without contacting your solicitor first.
I am the registered owner of a basement flat in Caerwys, conveyancing having been completed half a dozen 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? Similar flats in Caerwys with over 90 years remaining are worth £258,000. The ground rent is £55 per annum. The lease terminates on 21st October 2074
With 53 years unexpired we estimate the price of your lease extension to range between £35,200 and £40,600 as well as legals.
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 the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.