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Top Five Questions relating to Groby and Ratby leasehold conveyancing

Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Groby and Ratby. I am keen to extend my lease but my landlord is can not be found. 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. In some cases a specialist would be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Groby and Ratby.

I own a leasehold house in Groby and Ratby. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Groby and Ratby who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Groby and Ratby conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to appointing a Groby and Ratby conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Groby and Ratby conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Groby and Ratby conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How many lease extensions has the firm conducted in Groby and Ratby in the last 12 months?
  • Can they put you in touch with client in Groby and Ratby who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Groby and Ratby with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Groby and Ratby can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Groby and Ratby levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Groby and Ratby.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Groby and Ratby leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you fail to have the consents to hand you should not communicate with the landlord without contacting your solicitor in the first instance.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a lengthy process and frustrates many a Groby and Ratby conveyancing transaction. Where a reissued share certificate is needed, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • When it comes to leasehold conveyancing in Groby and Ratby what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Groby and Ratby. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • 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

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

    I am the registered owner of a ground floor flat in Groby and Ratby, conveyancing having been completed 2011. How much will my lease extension cost? Equivalent properties in Groby and Ratby with an extended lease are worth £210,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2083

    You have 58 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Groby and Ratby