Frequently asked questions relating to Cathays leasehold conveyancing
I have recently realised that I have Seventy years left on my lease in Cathays. I need to get lease extension but my landlord is missing. What are my options?
On the basis that 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 lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the lessor. On the whole an enquiry agent would be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. 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 overseeing Cathays.
Planning to exchange soon on a ground floor flat in Cathays. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Cathays should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Can you offer any advice when it comes to choosing a Cathays conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Cathays conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Cathays conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How familiar is the practice with lease extension legislation?
All being well we will complete the sale of our £400000 flat in Cathays next week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Cathays?
Cathays conveyancing on leasehold apartments usually necessitates administration charges invoiced by management companies :
- Completing pre-exchange enquiries
- Where consent is required before sale in Cathays
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Cathays lease defective?
Leasehold conveyancing in Cathays is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Chelsea Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
Cathays Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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What is the length of the lease?
How is the lease structured?
This information is useful as a) areas may cause problems for the block as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will want to have all the details
Other Topics