Top Five Questions relating to Great Sankey leasehold conveyancing
There are only 68 years unexpired on my lease in Great Sankey. I now wish to extend my lease but my landlord is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent should be helpful to conduct investigations and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Great Sankey.
Back In 2003, I bought a leasehold house in Great Sankey. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Great Sankey who acted for me is not around.Any advice?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Great Sankey conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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've recently bought a leasehold flat in Great Sankey. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part 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 Great Sankey conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Great Sankey conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Great Sankey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the practice with lease extension legislation?
- What are the charges for lease extension conveyancing?
Do you have any advice for leasehold conveyancing in Great Sankey from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Great Sankey can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Great Sankey leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you fail to have the consents in place do not contact the landlord without contacting your lawyer in advance.
- Some Great Sankey leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
- If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled.
- If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy process and delays many a Great Sankey home move. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
I bought a split level flat in Great Sankey, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Great Sankey with over 90 years remaining are worth £267,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2102
You have 76 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.