Coombe leasehold conveyancing: Q and A’s
Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Coombe. I need to get lease extension but my landlord is absent. 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 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 magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent may be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Coombe.
Looking forward to complete next month on a leasehold property in Coombe. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Coombe should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
Back In 2009, I bought a leasehold house in Coombe. Conveyancing and Virgin Money mortgage organised. 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 Coombe who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Coombe conveyancing firm to do this as it can be done on-line 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 am attracted to a two maisonettes in Coombe which have in the region of 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Coombe. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
All being well we will complete the sale of our £175000 garden flat in Coombe on Monday in a week. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Coombe?
Coombe conveyancing on leasehold flats usually necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are at liberty levy a reasonable charge for answering 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 situations it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the leaseholder of a ground floor flat in Coombe. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement decision for a Coombe premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The remaining number of years on the lease was 98 years.