Examples of recent questions relating to leasehold conveyancing in Farnham Common
I have recently realised that I have 62 years remaining on my flat in Farnham Common. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, 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 done all that could be expected to locate the landlord. For most situations an enquiry agent should be useful to conduct investigations and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Farnham Common.
Back In 2002, I bought a leasehold flat in Farnham Common. Conveyancing and Aldermore mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Farnham Common who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Farnham Common conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any top tips for leasehold conveyancing in Farnham Common from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Farnham Common can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
- Many freeholders or Management Companies in Farnham Common charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Farnham Common.
Completion in due on the sale of our £250000 maisonette in Farnham Common next week. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Farnham Common?
Farnham Common conveyancing on leasehold apartments often requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be willing to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.
What makes a Farnham Common lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Farnham Common. Most leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a 1st floor flat in Farnham Common, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Farnham Common with a long lease are worth £213,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2096
With only 76 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.