Top Five Questions relating to Ferryhill leasehold conveyancing
There are only Fifty years left on my flat in Ferryhill. I need to get lease extension but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to find the lessor. On the whole an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Ferryhill.
Looking forward to complete next month on a ground floor flat in Ferryhill. Conveyancing solicitors assured 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 Ferryhill should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease permit a right of way over a path or hallways?
- You should have a good understanding of the insurance provisions
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Ferryhill. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Ferryhill are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Ferryhill in which case you should be looking for a Ferryhill conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.
My wife and I purchased a leasehold flat in Ferryhill. Conveyancing and Barclays mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Ferryhill who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Ferryhill conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, 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 property in Ferryhill. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
I purchased a ground floor flat in Ferryhill, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Ferryhill with over 90 years remaining are worth £220,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2087
With 61 years left to run we estimate the price of your lease extension to span between £20,900 and £24,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.