Frequently asked questions relating to Hockley leasehold conveyancing
I am in need of some leasehold conveyancing in Hockley. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Hockley - 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.
There are only 68 years unexpired on my flat in Hockley. I need to extend my lease but my landlord is absent. 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. On the whole an enquiry agent may be useful to conduct investigations and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Hockley.
Estate agents have just been given the go-ahead to market my ground floor apartment in Hockley.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 unless 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. This will smooth the conveyancing process.
Do you have any advice for leasehold conveyancing in Hockley from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hockley can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
- Many landlords or Management Companies in Hockley charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Hockley.
Completion in due on the disposal of our £200000 apartment in Hockley next Tuesday . The management company has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hockley?
Hockley conveyancing on leasehold apartments normally necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Hockley Leasehold Conveyancing - Sample of Queries Prior to buying
The best form of lease structure is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
Are there any major works in the planning that will likely add a premium to the maintenance charges?
What is the annual service fee and ground rent?