Common questions relating to Clifton Village leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Clifton Village. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Clifton Village - 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.
There are only 68 years left on my flat in Clifton Village. I now want to get lease extension but my freeholder 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 extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the freeholder. In some cases a specialist would be useful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Clifton Village.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Clifton Village. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Clifton Village are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Clifton Village so you should seriously consider looking for a Clifton Village conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold house in Clifton Village. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Clifton Village who previously acted has now retired.What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Clifton Village conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a long established estate agency in Clifton Village where we have experienced a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Clifton Village conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a 1st floor flat in Clifton Village, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Clifton Village with an extended lease are worth £188,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2105
With 80 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
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