Lake District leasehold conveyancing Example Support Desk Enquiries
I only have Fifty years left on my lease in Lake District. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, 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 demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. In some cases an enquiry agent would be useful to carry out a search and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Lake District.
Back In 2000, I bought a leasehold flat in Lake District. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Lake District who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Lake District conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two flats in Lake District both have in the region of forty five years remaining on the leases. Do I need to be concerned?
A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
I've recently bought a leasehold property in Lake District. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).
Can you provide any advice for leasehold conveyancing in Lake District with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lake District can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Lake District state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. Should you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer in the first instance.
Leasehold Conveyancing in Lake District - Sample of Queries Prior to Purchasing
What is the the remaining lease term?
The majority of Lake District leasehold flats will incur a service bill for the upkeep of the block set by the freeholder. If you purchase the flat you will have to pay this amount, usually quarterly accross the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent to be met annual, this is usually not a significant sum, say approximately £25-£75 but you need to enquire it because sometimes it could be many hundreds of pounds.
The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this arrangement the tenants enjoy control and notwithstanding that a managing agent is frequently employed if it is bigger than a house conversion, the managing agent is directed by the tenants.