Sample questions relating to Kings Norton leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kings Norton. Before diving in I would like to find out the remaining lease term.
Assuming the lease is registered - and 99.9% are in Kings Norton - 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 wish to sublet my leasehold apartment in Kings Norton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your last Kings Norton conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I only have Seventy years left on my lease in Kings Norton. I need to extend my lease but my landlord is missing. What options are available to me?
If 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 enable the lease to be extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. In some cases a specialist would be useful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Kings Norton.
Back In 2000, I bought a leasehold house in Kings Norton. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Kings Norton who previously acted has now retired.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Kings Norton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are the frequently found deficiencies that you encounter in leases for Kings Norton properties?
There is nothing unique about leasehold conveyancing in Kings Norton. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I bought a leasehold flat in Kings Norton, conveyancing having been completed 5 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 Kings Norton with a long lease are worth £197,000. The ground rent is £65 charged once a year. The lease comes to an end on 21st October 2087
With 64 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.