Recently asked questions relating to Arkley leasehold conveyancing
I have recently realised that I have 62 years remaining on my lease in Arkley. I am keen to extend my lease but my freeholder is missing. What options are available to me?
If 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 enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. On the whole a specialist should be helpful to carry out a search and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Arkley.
Estate agents have just been given the go-ahead to market my basement flat in Arkley.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the invoice 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 until 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. This will smooth the conveyancing process.
Back In 2004, I bought a leasehold house in Arkley. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Arkley who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Arkley conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in Arkley. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Arkley. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension case for a Arkley property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The the unexpired residue of the current lease was 71.73 years.
In relation to leasehold conveyancing in Arkley what are the most frequent lease problems?
Leasehold conveyancing in Arkley is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have 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. Barclays , Skipton Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I inherited a 2 bed flat in Arkley, conveyancing having been completed in 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Arkley with a long lease are worth £195,000. The ground rent is £45 yearly. The lease finishes on 21st October 2095
With 69 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.