Cambridge Heath leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have 72 years left on my lease in Cambridge Heath. I need to get lease extension but my landlord is absent. What should I do?
If you qualify, 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 enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist should be helpful to carry out a search and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Cambridge Heath.
I’m about to sell my 2 bed flat in Cambridge Heath.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
It best that you clear the service charge 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 management companies will not acknowledge the buyer unless 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.
I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Cambridge Heath. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Cambridge Heath ?
The majority of houses in Cambridge Heath are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Cambridge Heath in which case you should be shopping around for a Cambridge Heath conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.
I am tempted by the attractive purchase price for a couple of apartments in Cambridge Heath which have approximately forty five years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Cambridge Heath is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cambridge Heath conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
We expect to complete the disposal of our £375000 maisonette in Cambridge Heath in 10 days. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Cambridge Heath?
Cambridge Heath conveyancing on leasehold apartments more often than not involves the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are at liberty charge a reasonable administration fee for answering enquiries 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 in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has no option but to pay whatever is requested of you if you want to sell the property.
I am the proprietor of a ground-floor 1960’s flat in Cambridge Heath. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
You certainly can. We can put you in touch with a Cambridge Heath conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Cambridge Heath premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.