Experts for Leasehold Conveyancing in Great Wyrley

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Questions and Answers: Great Wyrley leasehold conveyancing

I only have 68 years unexpired on my flat in Great Wyrley. I now wish to get lease extension but my landlord is absent. What should I do?

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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases an enquiry agent would be helpful to try and locate and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Great Wyrley.

My wife and I purchased a leasehold house in Great Wyrley. Conveyancing and The Mortgage Works mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Great Wyrley who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Great Wyrley conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What advice can you give us when it comes to finding a Great Wyrley conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Great Wyrley conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Great Wyrley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How familiar is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • Do you have any advice for leasehold conveyancing in Great Wyrley with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Great Wyrley can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Great Wyrley state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such alterations. If you dont have the approvals to hand you should not contact the landlord without contacting your conveyancer in the first instance.
  • A minority of Great Wyrley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate is often a lengthy process and slows down many a Great Wyrley conveyancing transaction. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the sale of our £450000 flat in Great Wyrley next week. The management company has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Great Wyrley?

    Great Wyrley conveyancing on leasehold flats normally necessitates the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I am the registered owner of a ground floor flat in Great Wyrley, conveyancing was carried out 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Great Wyrley with an extended lease are worth £194,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2085

    With just 59 years left to run we estimate the premium for your lease extension to be between £22,800 and £26,400 plus costs.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Great Wyrley