Top Five Questions relating to Ferryhill leasehold conveyancing
There are only Fifty years remaining on my lease in Ferryhill. I am keen to extend my lease but my landlord is absent. What should I do?
If 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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the landlord. In some cases a specialist should be useful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Ferryhill.
I’m about to sell my garden flat in Ferryhill.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – 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.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Ferryhill. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Ferryhill are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Ferryhill so you should seriously consider looking for a Ferryhill conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.
What are your top tips when it comes to choosing a Ferryhill conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Ferryhill conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Ferryhill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then why not?
In relation to leasehold conveyancing in Ferryhill what are the most common lease problems?
Leasehold conveyancing in Ferryhill is not unique. All leases are unique and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
Ferryhill Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
You will want to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. Ask other tenants whether they are happy with their service. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.
It is important to be aware whether window replacement or some other significant cost is pending to be shared amongst the leaseholders and may well materially impact the level of the maintenance charges or necessitate a specific invoice.
How many years are left on the lease?