Fenstanton leasehold conveyancing: Q and A’s
I have recently realised that I have Seventy years unexpired on my flat in Fenstanton. I am keen to get lease extension but my landlord is absent. What options are available to me?
If 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 magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the landlord. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Fenstanton.
I have just appointed agents to market my garden apartment in Fenstanton.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – Do I pay up?
The sensible thing to do is 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2004, I bought a leasehold flat in Fenstanton. Conveyancing and TSB mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Fenstanton who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Fenstanton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Fenstanton. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to appointing a Fenstanton conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Fenstanton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Fenstanton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
I inherited a split level flat in Fenstanton, conveyancing formalities finalised 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Fenstanton with an extended lease are worth £178,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2092
With just 71 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 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 provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.