Horfield leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have Sixty One years left on my lease in Horfield. I now want to extend my lease but my freeholder is missing. What options are available to me?
If you qualify, 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 granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. In some cases a specialist may be helpful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Horfield.
I have just appointed agents to market my basement apartment in Horfield.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?
It best that you 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.
I work for a busy estate agent office in Horfield where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Horfield conveyancing firms. Could you clarify whether the owner of a flat can commence the lease extension process 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 commence 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.
Can you offer any advice when it comes to appointing a Horfield conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Horfield conveyancing practice) it is most important that he or she should 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 Horfield 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 the firm is not ALEP accredited then what is the reason?
Do you have any top tips for leasehold conveyancing in Horfield from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Horfield can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
- Many landlords or Management Companies in Horfield levy fees for providing 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 accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Horfield.
I own a 2 bed flat in Horfield, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Horfield with over 90 years remaining are worth £245,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2081
With 58 years left to run we estimate the premium for your lease extension to span between £23,800 and £27,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account 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.