Recently asked questions relating to Holsworthy leasehold conveyancing
I am in need of some leasehold conveyancing in Holsworthy. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Holsworthy - 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.
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Holsworthy. I now wish to extend my lease but my freeholder is can not be found. What are my options?
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 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 track down the freeholder. In some cases a specialist should be helpful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Holsworthy.
Planning to sign contracts shortly on a leasehold property in Holsworthy. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Holsworthy should include some of the following:
- You should be sent a copy of the lease
Back In 2001, I bought a leasehold flat in Holsworthy. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Holsworthy who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Holsworthy conveyancing solicitor 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.
What are your top tips when it comes to finding a Holsworthy conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Holsworthy conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Holsworthy conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
I purchased a 1st floor flat in Holsworthy, conveyancing having been completed in 1996. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Holsworthy with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ends on 21st October 2074
You have 50 years remaining on your lease we estimate the premium for your lease extension to range between £39,000 and £45,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
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