Top Five Questions relating to Castle Bromwich leasehold conveyancing
I have recently realised that I have 72 years remaining on my lease in Castle Bromwich. I need to get lease extension but my landlord 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. In some cases a specialist would be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Castle Bromwich.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Castle Bromwich. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Castle Bromwich are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Castle Bromwich in which case you should be shopping around for a Castle Bromwich conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.
Back In 2008, I bought a leasehold flat in Castle Bromwich. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Castle Bromwich who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Castle Bromwich conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in Castle Bromwich from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Castle Bromwich can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
- Many freeholders or Management Companies in Castle Bromwich levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Castle Bromwich.
Completion in due on our sale of a £225000 flat in Castle Bromwich next Wednesday . The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Castle Bromwich?
Castle Bromwich conveyancing on leasehold flats typically involves fees being invoiced by management companies :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Castle Bromwich
- 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 inherited a 1st floor flat in Castle Bromwich, conveyancing was carried out 2005. Can you work out an approximate cost of a lease extension? Corresponding flats in Castle Bromwich with a long lease are worth £270,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2083
You have 60 years unexpired the likely cost is going to be between £21,900 and £25,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.