Sample questions relating to Great Linford leasehold conveyancing
There are only 72 years unexpired on my lease in Great Linford. I am keen to extend my lease but my landlord is absent. What are my options?
On the basis that 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 done all that could be expected to track down the landlord. For most situations an enquiry agent may be useful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Great Linford.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Great Linford. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Great Linford are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Great Linford in which case you should be shopping around for a Great Linford conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.
I own a leasehold house in Great Linford. Conveyancing and The Mortgage Works mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Great Linford who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Great Linford conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agent office in Great Linford where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Great Linford conveyancing firms. Could you shed some light as to whether the seller of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
All being well we will complete the disposal of our £325000 maisonette in Great Linford on Friday in a week. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Great Linford?
Great Linford conveyancing on leasehold maisonettes more often than not requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. 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 demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I purchased a split level flat in Great Linford, conveyancing was carried out in 2000. How much will my lease extension cost? Similar properties in Great Linford with a long lease are worth £202,000. The ground rent is £55 invoiced annually. The lease expires on 21st October 2071
You have 50 years remaining on your lease the likely cost is going to be between £32,300 and £37,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.