Top Five Questions relating to Irlam leasehold conveyancing
I am on look out for some leasehold conveyancing in Irlam. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Irlam - 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.
I have recently realised that I have 68 years left on my flat in Irlam. I now want to extend my lease but my freeholder is can not be found. 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the lessor. In some cases an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Irlam.
I’m about to sell my ground floor apartment in Irlam.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
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.
Last month I purchased a leasehold flat in Irlam. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
If all goes to plan we aim to complete the sale of our £175000 garden flat in Irlam on Wednesday in a week. The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Irlam?
Irlam conveyancing on leasehold flats normally involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to sell the property.
I invested in buying a 1st floor flat in Irlam, conveyancing formalities finalised 2004. Can you work out an approximate cost of a lease extension? Equivalent properties in Irlam with over 90 years remaining are worth £250,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2087
With 66 years unexpired we estimate the premium for your lease extension to range between £17,100 and £19,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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. Neither should you take any other action placing reliance on this information before getting professional advice.