Sample questions relating to Flitwick leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Flitwick. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Flitwick - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have Seventy years unexpired on my lease in Flitwick. I need to extend my lease but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent may be useful to try and locate and to produce a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Flitwick.
I own a leasehold house in Flitwick. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Flitwick who previously acted has now retired.Do I pay?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Flitwick conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Flitwick where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Flitwick conveyancing firms. Could you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What are your top tips when it comes to choosing a Flitwick conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Flitwick conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Flitwick conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- Can they put you in touch with client in Flitwick who can give a testimonial?
- What are the charges for lease extension conveyancing?
I bought a ground floor flat in Flitwick, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Flitwick with a long lease are worth £173,000. The ground rent is £65 per annum. The lease ends on 21st October 2100
With only 74 years remaining on your lease the likely cost is going to span between £10,500 and £12,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide 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 clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.