Top Five Questions relating to Ely leasehold conveyancing
I only have Sixty One years unexpired on my lease in Ely. I now wish to extend my lease but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, 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 mean that your lease can be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Ely.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Ely. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Ely are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Ely so you should seriously consider looking for a Ely conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission 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 solicitor should report to you on the legal implications.
Back In 2001, I bought a leasehold flat in Ely. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Ely who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Ely conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to finding a Ely conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Ely conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Ely conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How many lease extensions has the firm conducted in Ely in the last 12 months?
Do you have any advice for leasehold conveyancing in Ely with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Ely can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Ely leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such changes. Where you dont have the paperwork to hand you should not communicate with the landlord without checking with your solicitor in advance.
Leasehold Conveyancing in Ely - Examples of Questions you should consider before Purchasing
Please note if it is no more than 80 years it will have adverse implications on the value of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this will be. For most Elylease extensions you will be required to have owned the premises for a couple of years in order to be entitled to extend the lease.
How is the lease structured?
How much is the maintenance charge and ground rent on the apartment?