Questions and Answers: Llandudno leasehold conveyancing
I am in need of some leasehold conveyancing in Llandudno. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Llandudno - then the leasehold title will always include the short particulars 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 unexpired on my flat in Llandudno. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Llandudno.
My wife and I purchased a leasehold house in Llandudno. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Llandudno who previously acted has now retired.Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Llandudno conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any advice for leasehold conveyancing in Llandudno with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Llandudno can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
- Many landlords or managing agents in Llandudno charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Llandudno.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £475000 flat in Llandudno next week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Llandudno?
Llandudno conveyancing on leasehold apartments usually involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are entitled charge a reasonable charge for answering 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 situations it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I own a garden flat in Llandudno, conveyancing having been completed 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Llandudno with an extended lease are worth £268,000. The ground rent is £65 yearly. The lease expires on 21st October 2084
With 61 years remaining on your lease the likely cost is going to span between £20,900 and £24,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.