Failsworth leasehold conveyancing: Q and A’s
There are only 72 years left on my flat in Failsworth. I now want to get lease extension but my landlord is missing. What should I do?
If 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 magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent should be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Failsworth.
Expecting to complete next month on a basement flat in Failsworth. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Failsworth should include some of the following:
- Does the lease prohibit wood flooring?
Estate agents have just been given the go-ahead to market my garden flat in Failsworth.Conveyancing lawyers have not yet been instructed but I have just had a quarterly 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 management companies 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.
I own a leasehold flat in Failsworth. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Failsworth who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Failsworth conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note 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.
Completion in due on the sale of our £150000 maisonette in Failsworth in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Failsworth?
Failsworth conveyancing on leasehold maisonettes normally involves the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I am the registered owner of a basement flat in Failsworth, conveyancing was carried out in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Failsworth with a long lease are worth £255,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2088
With 68 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to 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.