Recently asked questions relating to Hockley leasehold conveyancing
I only have 72 years left on my flat in Hockley. I need to extend my lease but my landlord is missing. What options are available to me?
If you qualify, 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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the lessor. For most situations an enquiry agent may be helpful to conduct investigations and prepare an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Hockley.
I’m about to sell my 2 bed flat in Hockley.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 management companies 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.
I've recently bought a leasehold flat in Hockley. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner 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. A critical element 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).
I work for a busy estate agency in Hockley where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Hockley conveyancing solicitors. Could you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 buyer.
Can you offer any advice when it comes to appointing a Hockley conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Hockley conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Hockley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If they are not ALEP accredited then what is the reason?
I bought a studio flat in Hockley, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Hockley with over 90 years remaining are worth £168,000. The ground rent is £55 levied per year. The lease ends on 21st October 2089
You have 65 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
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