Questions and Answers: Eastcote leasehold conveyancing
I have recently realised that I have 68 years remaining on my lease in Eastcote. I need to extend my lease 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 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 lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the landlord. In some cases a specialist would be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Eastcote.
My wife and I purchased a leasehold flat in Eastcote. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Eastcote who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Eastcote conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agent office in Eastcote where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Eastcote conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension process for the buyer?
Provided that 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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.
We expect to complete the sale of our £150000 garden flat in Eastcote in 8 days. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Eastcote?
Eastcote conveyancing on leasehold flats more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Eastcote. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Eastcote conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Eastcote flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The the unexpired residue of the current lease was 53.26 years.
What are the common defects that you witness in leases for Eastcote properties?
Leasehold conveyancing in Eastcote is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- 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 difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Platform Home Loans 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 withdraw.
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