Top Five Questions relating to Leighton Buzzard leasehold conveyancing
I am on look out for some leasehold conveyancing in Leighton Buzzard. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Leighton Buzzard - then the leasehold title will always include the basic details 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 only have Seventy years unexpired on my lease in Leighton Buzzard. I now want to extend my lease but my landlord 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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. In some cases an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Leighton Buzzard.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Leighton Buzzard. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Leighton Buzzard are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Leighton Buzzard in which case you should be looking for a Leighton Buzzard conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I own a leasehold house in Leighton Buzzard. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Leighton Buzzard who previously acted has long since retired.What should I do?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Leighton Buzzard conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Completion in due on the disposal of our £375000 flat in Leighton Buzzard in seven days. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Leighton Buzzard?
Leighton Buzzard conveyancing on leasehold apartments often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I am the registered owner of a 2 bed flat in Leighton Buzzard, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Leighton Buzzard with over 90 years remaining are worth £167,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2097
With only 76 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.