Common questions relating to Crosby leasehold conveyancing
I have recently realised that I have 72 years remaining on my flat in Crosby. I need to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 prove that you have done all that could be expected to locate the lessor. In some cases a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Crosby.
I’m about to sell my 2 bed apartment in Crosby.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
Do you have any top tips for leasehold conveyancing in Crosby with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Crosby can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers representatives.
- Many landlords or managing agents in Crosby levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Crosby.
We expect to complete the disposal of our £350000 apartment in Crosby in just under a week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Crosby?
Crosby conveyancing on leasehold apartments usually results in administration charges levied by landlords agents :
- Answering pre-contract enquiries
- Where consent is required before sale in Crosby
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the common defects that you encounter in leases for Crosby properties?
There is nothing unique about leasehold conveyancing in Crosby. Most leases are unique 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:
- A provision to repair to or maintain parts 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
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
I am the registered owner of a 1 bedroom flat in Crosby, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Crosby with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2087
With just 66 years left to run the likely cost is going to be between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.