Hale Barns leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Hale Barns. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Hale Barns - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 62 years remaining on my flat in Hale Barns. I now want to extend my lease but my freeholder is missing. What should I do?
If you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. On the whole a specialist would be useful to conduct investigations and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Hale Barns.
Back In 2005, I bought a leasehold flat in Hale Barns. Conveyancing and Nationwide Building Society 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 1996. The conveyancing practitioner in Hale Barns who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Hale Barns conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold property in Hale Barns. Am I liable to pay service charges for periods before completion of my purchase?
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. Strange as it may seem, 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 ensure 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 makes a Hale Barns lease unmortgageable?
Leasehold conveyancing in Hale Barns is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Hale Barns Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
-
How many of the leaseholders are in arrears for their maintenance charge payments?
Who takes responsibility for maintaining and repairing the block?
If a Hale Barns lease has fewer than 80 years it will affect the salability of the apartment. Check with your bank that they are willing to lend given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Hale Barnslease extensions you would need to own the residence for two years before you are entitled to extend the lease.
Other Topics