Frequently asked questions relating to Aldborough Hatch leasehold conveyancing
My wife and I purchased a leasehold flat in Aldborough Hatch. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Aldborough Hatch who acted for me is not around.Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Aldborough Hatch conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a long established estate agency in Aldborough Hatch where we see a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Aldborough Hatch conveyancing firms. Can you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What advice can you give us when it comes to choosing a Aldborough Hatch conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Aldborough Hatch conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Aldborough Hatch conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Aldborough Hatch from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Aldborough Hatch can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- Many freeholders or managing agents in Aldborough Hatch levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Aldborough Hatch.
We expect to complete the disposal of our £125000 flat in Aldborough Hatch next week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Aldborough Hatch?
Aldborough Hatch conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to sell the property.
I am the registered owner of a ground floor flat in Aldborough Hatch. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to judgment on the sum to be paid.
An example of a Lease Extension decision for a Aldborough Hatch premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The remaining number of years on the lease was 61.36 years.