Recently asked questions relating to Godmanchester leasehold conveyancing
I only have 72 years left on my lease in Godmanchester. I am keen to extend my lease but my freeholder is absent. What options are available to me?
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 an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. On the whole a specialist should be useful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Godmanchester.
I’m about to sell my garden flat in Godmanchester.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – what should I do?
The sensible thing to do is discharge 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Godmanchester. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Godmanchester are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Godmanchester so you should seriously consider shopping around for a Godmanchester conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.
My wife and I purchased a leasehold house in Godmanchester. Conveyancing and Aldermore mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Godmanchester who previously acted has now retired.Do I pay?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Godmanchester conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, 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 sale of our £375000 maisonette in Godmanchester in 10 days. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Godmanchester?
Godmanchester conveyancing on leasehold maisonettes more often than not necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the registered owner of a studio flat in Godmanchester, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Equivalent flats in Godmanchester with over 90 years remaining are worth £210,000. The ground rent is £55 levied per year. The lease ends on 21st October 2092
With just 69 years left to run we estimate the price of your lease extension to be between £14,300 and £16,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.