Top Five Questions relating to Kingsbridge leasehold conveyancing
There are only 62 years remaining on my flat in Kingsbridge. I now wish to extend my lease but my freeholder is can not be found. What are my options?
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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent should be useful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Kingsbridge.
Planning to sign contracts shortly on a leasehold property in Kingsbridge. Conveyancing solicitors inform 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 Kingsbridge should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold flat in Kingsbridge. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Kingsbridge who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Kingsbridge conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to finding a Kingsbridge conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Kingsbridge conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Kingsbridge 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:
- Can they put you in touch with client in Kingsbridge who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £225000 garden flat in Kingsbridge in 8 days. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kingsbridge?
Kingsbridge conveyancing on leasehold flats ordinarily results in administration charges raised by management companies :
- Completing pre-exchange questions
- Where consent is required before sale in Kingsbridge
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a basement flat in Kingsbridge, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Kingsbridge with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2080
With only 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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