Common questions relating to Chesham Bois leasehold conveyancing
I am in need of some leasehold conveyancing in Chesham Bois. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and almost all are in Chesham Bois - 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 62 years left on my lease in Chesham Bois. I now want to extend my lease but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. In some cases a specialist may be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Chesham Bois.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Chesham Bois. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Chesham Bois are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Chesham Bois so you should seriously consider shopping around for a Chesham Bois conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Chesham Bois. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Chesham Bois who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Chesham Bois conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to choosing a Chesham Bois conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Chesham Bois conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Chesham Bois conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions has the firm conducted in Chesham Bois in the last 12 months?
I am the registered owner of a 2 bed flat in Chesham Bois, conveyancing having been completed 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Chesham Bois with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2085
With only 65 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.