Examples of recent questions relating to leasehold conveyancing in Kirkby
I am in need of some leasehold conveyancing in Kirkby. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Kirkby - then the leasehold title will always include the short particulars 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 Sixty One years unexpired on my lease in Kirkby. I now wish to get lease extension but my freeholder is can not be found. What should I do?
On the basis that 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 granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. In some cases an enquiry agent may be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Kirkby.
I have just started marketing my ground floor flat in Kirkby.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – what should I do?
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 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 am tempted by the attractive purchase price for a couple of flats in Kirkby both have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Kirkby. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
All being well we will complete our sale of a £150000 maisonette in Kirkby in just under a week. The managing agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kirkby?
Kirkby conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is requested of you if you want to sell the property.
Kirkby Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
If a Kirkby lease has no more than eighty years it will impact the value of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will probably have to extend the lease at some point and it is worth finding out how much this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for two years in order to be eligible to carry out a lease extension.
The majority of Kirkby leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced on behalf of the management company. Where you buy the flat you will have to pay this charge, normally in instalments accross the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge to be met annual, ordinarily this is not a exorbitant sum, say approximately £50-£100 but you should to enquire it because occasionally it could be prohibitively expensive.
Its a good idea to find out as much as possible about the company managing the building as they will either make life much easier or uncomfortable. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the tidiness of the communal areas. Ask other tenants what they think of their management. In conclusion, be sure you discover the dates that the service fees are due to the relevant party and precisely how they are spending the funds.