Questions and Answers: Lechlade leasehold conveyancing
I only have 72 years unexpired on my lease in Lechlade. I need to get lease extension but my freeholder is missing. What are my options?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the landlord. In some cases an enquiry agent should be helpful to carry out a search and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Lechlade.
Expecting to sign contracts shortly on a basement flat in Lechlade. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Lechlade should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- The total extent of the premises. This will be the apartment itself but may incorporate a roof space or cellar if appropriate.
- Whether the lease restricts you from subletting the flat, or having a home office for business
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Whether your lease has a provision for a sinking fund?
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
I own a leasehold flat in Lechlade. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Lechlade who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Lechlade conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agency in Lechlade where we have experienced a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Lechlade conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Completion in due on the sale of our £ 500000 apartment in Lechlade next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Lechlade?
For most leasehold sales in Lechlade conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Lechlade
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a leasehold flat in Lechlade, conveyancing having been completed 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Lechlade with over 90 years remaining are worth £183,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2101
You have 75 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.