Examples of recent questions relating to leasehold conveyancing in Crediton
I have recently realised that I have 62 years unexpired on my lease in Crediton. I now want to extend my lease but my freeholder 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 apply 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 Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. In some cases a specialist should be helpful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Crediton.
Looking forward to sign contracts shortly on a leasehold property in Crediton. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Crediton should include some of the following:
- You should be sent a copy of the lease
I’m about to sell my 2 bed apartment in Crediton.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Crediton. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Crediton ?
The majority of houses in Crediton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Crediton so you should seriously consider looking for a Crediton conveyancing solicitor and check that they are used to transacting 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 to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Crediton. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Crediton who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Crediton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a leasehold flat in Crediton, conveyancing formalities finalised in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Crediton with a long lease are worth £255,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2091
With just 69 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.