Heath leasehold conveyancing: Q and A’s
I only have Fifty years remaining on my flat in Heath. I need to extend my lease 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 magistrate. However, you will be required to prove that you have done all that could be expected to find the freeholder. In some cases a specialist would be useful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Heath.
Back In 2009, I bought a leasehold house in Heath. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Heath who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Heath conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of flats in Heath both have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Heath. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field
I am a negotiator for a reputable estate agent office in Heath where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Heath conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
All being well we will complete our sale of a £ 175000 apartment in Heath next Thursday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Heath?
Heath conveyancing on leasehold apartments more often than not involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to complete the sale of your home.
Heath Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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Who are the managing agents?
Does the lease include onerous restrictions?