Recently asked questions relating to Handforth leasehold conveyancing
I have recently realised that I have Fifty years unexpired on my flat in Handforth. I am keen to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, 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 extended by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the freeholder. For most situations a specialist may be useful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Handforth.
Planning to sign contracts shortly on a garden flat in Handforth. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Handforth should include some of the following:
- You should be sent a copy of the lease
Do you have any top tips for leasehold conveyancing in Handforth from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Handforth can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Handforth state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you dont have the consents to hand do not contact the landlord without contacting your conveyancer before hand.
We expect to complete the sale of our £425000 maisonette in Handforth in nine days. The management company has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Handforth?
Handforth conveyancing on leasehold apartments often requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded if you want to sell the property.
Are there common problems that you come across in leases for Handforth properties?
There is nothing unique about leasehold conveyancing in Handforth. Most leases is drafted differently 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:
- Repairing obligations to or maintain elements of the premises
- 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.
I bought a studio flat in Handforth, conveyancing was carried out 2005. How much will my lease extension cost? Corresponding flats in Handforth with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2094
With just 73 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed 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. You should not take any other action placing reliance on this information without first seeking the advice of a professional.