Sample questions relating to Linton leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Linton. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Linton - 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.
Having checked my lease I have discovered that there are only Sixty One years remaining on my flat in Linton. I now want to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you qualify, 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. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Linton.
I’m about to sell my basement apartment in Linton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?
The sensible thing to do is discharge 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 managing agents 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.
Last month I purchased a leasehold flat in Linton. Do I have any liability for service charges for periods before completion of my purchase?
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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £150000 apartment in Linton next Thursday . The landlords agents has quoted £384 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 Linton?
Linton conveyancing on leasehold flats normally necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to sell the property.
I invested in buying a split level flat in Linton, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Linton with over 90 years remaining are worth £230,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2084
With just 63 years remaining on your lease we estimate the premium for your lease extension to span between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.