Examples of recent questions relating to leasehold conveyancing in Epping
I am on look out for some leasehold conveyancing in Epping. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Epping - then the leasehold title will always include the basic details 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 62 years left on my lease in Epping. I now wish to get lease extension but my freeholder is missing. What should I do?
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 lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Epping.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Epping. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Epping are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Epping so you should seriously consider looking for a Epping conveyancing solicitor and check that they are used to dealing with leasehold houses. First 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 comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.
Do you have any top tips for leasehold conveyancing in Epping with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Epping can be avoided where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers lawyers.
- Many landlords or Management Companies in Epping charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Epping.
We expect to complete the disposal of our £275000 maisonette in Epping on Friday in a week. The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Epping?
For the majority of leasehold sales in Epping conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Epping
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 1 bedroom flat in Epping, conveyancing having been completed 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Epping with over 90 years remaining are worth £217,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2071
With just 50 years left to run we estimate the price of your lease extension to range between £37,100 and £42,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns 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 placing reliance on this information before getting professional advice.