Top Five Questions relating to Kirton in Lindsey leasehold conveyancing
Having checked my lease I have discovered that there are only 68 years remaining on my lease in Kirton in Lindsey. I now wish to get lease extension but my landlord is absent. What options are available to me?
If 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the freeholder. In some cases a specialist would be helpful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the application to the County Court overseeing Kirton in Lindsey.
Due to complete next month on a studio apartment in Kirton in Lindsey. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kirton in Lindsey should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
Estate agents have just been given the go-ahead to market my basement flat in Kirton in Lindsey.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've recently bought a leasehold flat in Kirton in Lindsey. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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 ensure 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 our sale of a £350000 flat in Kirton in Lindsey next week. The landlords agents has quoted £384 for Landlord’s certificate, 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 Kirton in Lindsey?
Kirton in Lindsey conveyancing on leasehold flats more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.
I acquired a basement flat in Kirton in Lindsey, conveyancing formalities finalised 2004. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Kirton in Lindsey with a long lease are worth £189,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2098
With only 72 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
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