Top Five Questions relating to Halifax leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Halifax. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Halifax - then the leasehold title will always include the short particulars 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 Seventy years remaining on my lease in Halifax. I now wish to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to prove that you have done all that could be expected to track down the landlord. In some cases an enquiry agent may be useful to try and locate and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Halifax.
I have just started marketing my basement apartment in Halifax.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold house in Halifax. Conveyancing and TSB mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Halifax who previously acted has now retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Halifax conveyancing firm to do this as you can do this on the Land Registry website for a few pound. 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.
Do you have any top tips for leasehold conveyancing in Halifax from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Halifax can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Halifax leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the consents in place do not contact the landlord without contacting your conveyancer in the first instance.
- If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
- If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and frustrates many a Halifax home move. If a duplicate share is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
- You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I bought a basement flat in Halifax, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Halifax with over 90 years remaining are worth £203,000. The ground rent is £45 per annum. The lease ends on 21st October 2100
With 74 years left to run the likely cost is going to span between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.