Top Five Questions relating to Little Bromwich leasehold conveyancing
I am on look out for some leasehold conveyancing in Little Bromwich. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Little Bromwich - 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 72 years remaining on my lease in Little Bromwich. I am keen 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 apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Little Bromwich.
Last month I purchased a leasehold property in Little Bromwich. 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 lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
What are your top tips when it comes to finding a Little Bromwich conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Little Bromwich conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Little Bromwich conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions has the firm completed in Little Bromwich in the last year?
- Can they put you in touch with client in Little Bromwich who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 150000 garden flat in Little Bromwich on Tuesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Little Bromwich?
Little Bromwich conveyancing on leasehold maisonettes usually necessitates fees being raised by landlords agents :
- Completing pre-exchange questions
- Where consent is required before sale in Little Bromwich
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 2 bed flat in Little Bromwich, conveyancing formalities finalised 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Little Bromwich with over 90 years remaining are worth £210,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease runs out on 21st October 2083
You have 57 years left to run the likely cost is going to be between £27,600 and £31,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information 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 should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.