Cheddleton leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Cheddleton. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Cheddleton - then the leasehold title will always include the short particulars 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.
There are only Fifty years unexpired on my flat in Cheddleton. I now want to get lease extension but my landlord is can not be found. What options are available to me?
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 demonstrate that you have used your best endeavours to locate the freeholder. For most situations an enquiry agent should be useful to carry out a search and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Cheddleton.
I have just started marketing my basement apartment in Cheddleton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – Do I pay up?
It best that you discharge the invoice 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 tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cheddleton. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cheddleton ?
The majority of houses in Cheddleton are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Cheddleton in which case you should be looking for a Cheddleton conveyancing solicitor and be sure 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 leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.
What advice can you give us when it comes to choosing a Cheddleton conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Cheddleton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Cheddleton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- What volume of lease extensions have they completed in Cheddleton in the last 12 months?
I acquired a basement flat in Cheddleton, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Cheddleton with over 90 years remaining are worth £180,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2089
With 63 years unexpired we estimate the price of your lease extension to span between £17,100 and £19,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
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