Frequently asked questions relating to Ellesmere leasehold conveyancing
I only have 72 years unexpired on my lease in Ellesmere. I now wish 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 apply 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 Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. On the whole an enquiry agent would be useful to conduct investigations and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Ellesmere.
I am hoping to sign contracts shortly on a basement flat in Ellesmere. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Ellesmere should include some of the following:
- The physical extent of the demise. This will be the flat itself but may include a loft or basement if appropriate.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Ellesmere. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Ellesmere are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Ellesmere so you should seriously consider shopping around for a Ellesmere conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.
If all goes to plan we aim to complete the disposal of our £225000 apartment in Ellesmere in 10 days. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Ellesmere?
Ellesmere conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
What are the frequently found deficiencies that you encounter in leases for Ellesmere properties?
There is nothing unique about leasehold conveyancing in Ellesmere. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have 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. Santander, Skipton Building Society, and Nottingham Building Society all have express requirements 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 provide security, obliging the purchaser to withdraw.
I am the registered owner of a garden flat in Ellesmere, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Ellesmere with an extended lease are worth £194,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2086
With only 61 years unexpired the likely cost is going to be between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
Other Topics