Recently asked questions relating to Frant leasehold conveyancing
I only have 68 years remaining on my lease in Frant. I now want to extend my lease but my landlord is absent. What are my options?
On the basis that 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to conduct investigations and to produce a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Frant.
Due to exchange soon on a garden flat in Frant. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Frant should include some of the following:
- You should be sent a copy of the lease
I am looking at a couple of maisonettes in Frant which have approximately fifty years remaining on the leases. Will this present a problem?
There are plenty of short leases in Frant. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Last month I purchased a leasehold flat in Frant. Do I have any liability for service charges relating to a period prior to my ownership?
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).
What are your top tips when it comes to finding a Frant conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Frant conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Frant conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- Can they put you in touch with client in Frant who can give a testimonial?
I am the registered owner of a split level flat in Frant, conveyancing having been completed 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Frant with an extended lease are worth £226,000. The ground rent is £60 invoiced annually. The lease ends on 21st October 2075
You have 53 years left to run the likely cost is going to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.