Frequently asked questions relating to Grange Park leasehold conveyancing
I have recently realised that I have Seventy years unexpired on my lease in Grange Park. I am keen to extend my lease but my landlord is can not be found. What are my options?
If you qualify, 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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. On the whole an enquiry agent may be useful to carry out a search and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Grange Park.
My wife and I purchased a leasehold house in Grange Park. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Grange Park who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Grange Park conveyancing lawyer to do this as you can do this on the Land Registry website for £3. 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 work for a long established estate agency in Grange Park where we see a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Grange Park conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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 can avoid having 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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 apartment in Grange Park on Friday in a week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Grange Park?
Grange Park conveyancing on leasehold flats normally necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They may invoice 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 transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
I inherited a garden flat in Grange Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Lease Extension decision for a Grange Park flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired lease term was 81.79 years.
Are there common problems that you witness in leases for Grange Park properties?
There is nothing unique about leasehold conveyancing in Grange Park. All leases are unique and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
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. HSBC Bank, The Royal Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.