Frequently asked questions relating to Eaton Bray leasehold conveyancing
I am on look out for some leasehold conveyancing in Eaton Bray. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Eaton Bray - then the leasehold title will always include the short particulars 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.
I have recently realised that I have Seventy years unexpired on my lease in Eaton Bray. I am keen to get lease extension but my landlord is absent. 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases an enquiry agent would be helpful to carry out a search and prepare a report to be used as proof that the freeholder 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 overseeing Eaton Bray.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Eaton Bray. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Eaton Bray are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Eaton Bray in which case you should be shopping around for a Eaton Bray 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 leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.
I own a leasehold flat in Eaton Bray. Conveyancing and Barclays mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Eaton Bray who previously acted has long since 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 registered owner of the freehold reversion. It is not necessary to instruct a Eaton Bray conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in Eaton Bray from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Eaton Bray can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
- Many landlords or Management Companies in Eaton Bray levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have 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 Eaton Bray.
I acquired a 2 bed flat in Eaton Bray, conveyancing was carried out 2007. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Eaton Bray with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2083
You have 60 years left to run the likely cost is going to range between £22,800 and £26,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. 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 should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.