Recently asked questions relating to East Hunsbury leasehold conveyancing
There are only 68 years remaining on my lease in East Hunsbury. I am keen to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be useful to try and locate and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing East Hunsbury.
I have just appointed agents to market my basement flat in East Hunsbury.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 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.
My wife and I purchased a leasehold house in East Hunsbury. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in East Hunsbury who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a East Hunsbury conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two maisonettes in East Hunsbury which have in the region of fifty years left on the leases. should I be concerned?
There are plenty of short leases in East Hunsbury. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area
What are your top tips when it comes to appointing a East Hunsbury conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a East Hunsbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non East Hunsbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
I own a studio flat in East Hunsbury, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in East Hunsbury with an extended lease are worth £181,000. The ground rent is £45 yearly. The lease ends on 21st October 2096
With just 71 years unexpired we estimate the price of your lease extension to span between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered 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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