Common questions relating to Leighton Buzzard leasehold conveyancing
I have recently realised that I have Sixty One years remaining on my lease in Leighton Buzzard. I now wish to get lease extension 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases a specialist would be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Leighton Buzzard.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Leighton Buzzard. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Leighton Buzzard ?
Most houses in Leighton Buzzard are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Leighton Buzzard so you should seriously consider looking for a Leighton Buzzard conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
Back In 2003, I bought a leasehold flat in Leighton Buzzard. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Leighton Buzzard who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Leighton Buzzard conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to finding a Leighton Buzzard conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Leighton Buzzard conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Leighton Buzzard conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If the firm is not ALEP accredited then what is the reason?
- Can they put you in touch with client in Leighton Buzzard who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 225000 maisonette in Leighton Buzzard next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Leighton Buzzard?
Leighton Buzzard conveyancing on leasehold apartments often requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I bought a split level flat in Leighton Buzzard, conveyancing was carried out 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Leighton Buzzard with a long lease are worth £174,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2089
With only 63 years remaining on your lease the likely cost is going to span between £18,100 and £20,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.