Recently asked questions relating to Holmfirth leasehold conveyancing
I only have 72 years left on my flat in Holmfirth. I am keen to extend my lease but my freeholder is missing. What are my options?
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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist would be useful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Holmfirth.
Due to sign contracts shortly on a basement flat in Holmfirth. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Holmfirth should include some of the following:
- You should receive a copy of the lease
I've recently bought a leasehold house in Holmfirth. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 Holmfirth where we see a few leasehold sales derailed due to short leases. I have received inconsistent advice from local Holmfirth conveyancing solicitors. Can you confirm whether the owner of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 the disposal of our £250000 garden flat in Holmfirth on Monday in a week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Holmfirth?
For most leasehold sales in Holmfirth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Holmfirth
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a split level flat in Holmfirth, conveyancing having been completed in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Holmfirth with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2080
With 59 years left to run we estimate the premium for your lease extension to be between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.