Examples of recent questions relating to leasehold conveyancing in Ardleigh Green
Having had my offer accepted I require leasehold conveyancing in Ardleigh Green. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and most are in Ardleigh Green - 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.
There are only 72 years left on my lease in Ardleigh Green. I now want to extend my lease but my freeholder is absent. What are my options?
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 an order 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. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. In some cases an enquiry agent may be helpful to try and locate and to produce a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Ardleigh Green.
I am employed by a reputable estate agency in Ardleigh Green where we have experienced a number of flat sales derailed as a result of short leases. I have received contradictory information from local Ardleigh Green conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 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 disposal of the property.
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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 maisonette in Ardleigh Green next Wednesday . The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Ardleigh Green?
Ardleigh Green conveyancing on leasehold flats usually requires the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.
I am the leaseholder of a second floor flat in Ardleigh Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Ardleigh Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Ardleigh Green property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the unexpired residue of the current lease was 57.5 years.
Are there common defects that you see in leases for Ardleigh Green properties?
Leasehold conveyancing in Ardleigh Green is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.