Common questions relating to Gloucester leasehold conveyancing
I have recently realised that I have Sixty One years unexpired on my flat in Gloucester. I now wish to extend my lease but my landlord is missing. What are my options?
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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist would be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Gloucester.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Gloucester. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Gloucester ?
The majority of houses in Gloucester are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Gloucester in which case you should be looking for a Gloucester conveyancing practitioner and check that they have experience in dealing with 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 such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I own a leasehold house in Gloucester. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Gloucester who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Gloucester conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250000 maisonette in Gloucester on Wednesday in a week. The management company has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Gloucester?
Gloucester conveyancing on leasehold flats more often than not involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
What makes a Gloucester lease unmortgageable?
Leasehold conveyancing in Gloucester is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
Gloucester Leasehold Conveyancing - Examples of Queries Prior to buying
Where a Gloucester lease has less than eighty years it will affect the value of the apartment. Check with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and it is worth finding out how much this would cost. For most Gloucesterlease extensions you would need to own the residence for two years in order to be legally able to exercise a lease extension.
How much is the ground rent and service charge?
Does this lease have in excess of 82 years left?